15.2-4217 - Regional Cooperation Incentive Fund created; administration thereof.
§ 15.2-4217. Regional Cooperation Incentive Fund created; administrationthereof.
A. There is hereby created a Regional Cooperation Incentive Fund for thepurpose of encouraging inter-local strategic and functional area planning andother regional cooperative activities. The Fund shall be administered by theDepartment of Housing and Community Development. Fund availability is subjectto the Appropriation Act.
B. From time to time the General Assembly and the Governor may designatespecific functional areas or activities which are to be given highestpriority for funding, including but not limited to economic development,criminal justice, solid waste management, water supply, emergency managementand transportation.
C. Disbursements from the Regional Cooperation Incentive Fund shall be madeon a matching grant basis to planning district commissions. The Department ofHousing and Community Development shall promulgate regulations for theadministration of the funds, including application forms, eligibilityrequirements and terms and duration of grants. In establishing regulations,the following criteria shall be met:
1. The planning district commission or member localities must provide, at aminimum, a twenty-five percent match to the grant; and
2. Any project for which a grant is sought shall use private initiative andenterprise insofar as feasible, and emphasize coordination of availablegovernmental and private financial and technical resources.
D. The Department of Housing and Community Development shall require periodicreports from grant recipients concerning progress of the project and the useof funds.
(1995, cc. 732, 796, § 15.1-1412.1; 1997, c. 587.)