Code of Virginia § 36-50. Extension of general powers for actions taken pursuant to a redevelopment plan.
135 words·~1 min read·
/va/title-36/chapter-1/36-50A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In undertaking actions pursuant to a redevelopment plan, an authority shall have all the rights, powers, privileges, and immunities provided in this chapter. However, nothing contained in §§ 36-21 and 36-22 shall be construed as limiting the power of an authority, in the event of a default (including failure of compliance with a redevelopment plan) by a purchaser or lessee of land in a redevelopment plan, to acquire property and operate it free from the restrictions contained in §§ 36-21 and 36-22 ; and provided further, that any property which an authority leases to nongovernmental persons or entities for redevelopment under a redevelopment plan shall have the same tax status as if such leased property were owned by such nongovernmental persons or entities.
1946, p. 279; Michie Suppl. 1946, § 3145(8c); 2006, c. 784 .