Loans may be made from the Fund, in the Board's discretion, (i) to a local government for the purpose of establishing living shorelines, as defined in § 28.2-104.1, to protect or improve water quality and prevent the pollution of state waters or (ii) to a local government that has developed a funding program to provide low-interest loans or other incentives to businesses or individual citizens of the Commonwealth to facilitate the establishment of living shorelines to protect or improve water quality and prevent the pollution of state waters. To be eligible for loan funding, a business shall be located within a locality that is in the Rural Coastal Virginia Community Enhancement Authority as defined in § 15.2-7600. Eligible businesses include bed-and-breakfast operations, campgrounds, and restaurants, as defined in § 35.1-1, and businesses that use working waterfronts, as defined in § 15.2-2201. The Board shall develop guidelines for the administration of such loans.
2015, c. 474; 2019, c. 497.
Structure Code of Virginia
Title 62.1 - Waters of the State, Ports and Harbors
Chapter 22 - Virginia Water Facilities Revolving Fund
§ 62.1-225. Creation and management of Fund
§ 62.1-226. Deposit of money; expenditures; investments
§ 62.1-228. Collection of money due Fund
§ 62.1-229. Loans to local governments or other entities
§ 62.1-229.1. Loans and grants for agricultural best management practices
§ 62.1-229.2. Loans for remediation of contaminated properties
§ 62.1-229.3. Loans for land conservation
§ 62.1-229.4. Loans for stormwater runoff control best management practices
§ 62.1-229.5. Loans for living shorelines
§ 62.1-230. Grants to local governments
§ 62.1-230.1. Loans and grants for regional projects, etc.
§ 62.1-231. Pledge of loans to secure bonds of Authority