CODE OF VIRGINIA

FINDING OF PUBLIC INTEREST (§ 33.2-1803.1)

A. Prior to the initiation of a procurement pursuant to § 33.2-1803, the chief
executive officer of the responsible public entity shall make a finding of
public interest. Such finding shall include information set forth in subsection
B.

B. At a minimum, a finding of public interest shall contain the following
information:

   1.  A description of the benefits expected to be realized by the responsible
   public entity through the use of this chapter compared with the development
   and/or operation of the transportation facility through other options
   available to the responsible public entity.

   2.  A statement of the risks, liabilities, and responsibilities to be
   transferred, assigned, or assumed by the private entity, which shall include
   the following:
               
               
            

      a.  A discussion of whether revenue risk will be transferred to the private
      entity and the degree to which any such transfer may be mitigated through
      other provisions in the interim or comprehensive agreements;

      b.  A description of the risks, liabilities, and responsibilities to be
      retained by the responsible public entity; and

      c.  Other items determined appropriate by the responsible public entity in
      the guidelines for this chapter.

   3.  The determination of whether the project has a high, medium, or low level
   of project delivery risk and a description of how such determination was made.
   If the qualifying transportation facility is determined to contain high risk,
   a description of how the public’s interest will be protected through the
   transfer, assignment, or assumption of risks or responsibilities by the
   private entity in the event that issues arise with the development and/or
   operation of the qualifying transportation facility.

   4.  If the responsible public entity proposes to enter into an interim or
   comprehensive agreement pursuant to subdivision 2 of § 33.2-1819, information
   and the rationale demonstrating that proceeding in this manner is more
   beneficial than proceeding pursuant to subdivision 1 of § 33.2-1819.

HISTORY: 2015, c. 612.