CODE OF VIRGINIA

EXTENSION OF GENERAL POWERS FOR ACTIONS TAKEN PURSUANT TO A REDEVELOPMENT PLAN
(§ 36-50)

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.

HISTORY: 1946, p. 279; Michie Suppl. 1946, § 3145(8c); 2006, c. 784.