Any locality may acquire, pursuant to § 15.2-1800, but not by condemnation, a facility site and may likewise transfer any facility site to an authority. Such transfer may be authorized by a resolution of the governing body of the locality without submission of the question to the voters and without regard to the requirements, restrictions, limitations or other provisions contained in any other general, special or local law. Such facility sites may be located within or outside or partially within or outside the locality creating the authority. If a real estate broker licensed under § 54.1-2100 represents a party in a transaction through which a facility site is acquired, the locality may pay a reasonable brokerage fee to such real estate broker.
1966, c. 651, § 15.1-1388; 1997, c. 587; 1998, c. 728.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 49 - Industrial Development and Revenue Bond Act
§ 15.2-4901. Purpose of chapter
§ 15.2-4903. Creation of industrial development authorities
§ 15.2-4905. Powers of authority
§ 15.2-4906. Public hearing and approval
§ 15.2-4907. Fiscal impact statement
§ 15.2-4908. Issuance of bonds, notes and other obligations of authority
§ 15.2-4909. Liability of Commonwealth, political subdivisions, directors and officers
§ 15.2-4910. Security for payment of bonds; default
§ 15.2-4911. Rents, fees and other charges
§ 15.2-4912. Exemption from taxation
§ 15.2-4913. Authority to be nonprofit; excess earnings
§ 15.2-4914. Dissolution of authority; disposition of property
§ 15.2-4915. Bonds as legal investments and lawful security
§ 15.2-4916. Authorities acting jointly
§ 15.2-4918. Provisions of chapter cumulative; construction
§ 15.2-4919. Provisions of chapter controlling over other statutes and charters