Terms Used In Virginia Code > Title 2.2 > Subtitle II > Part B > Chapter 51.1 - Virginia Collaborative Economic Development Act

• Area of Operation: means land owned by the Commonwealth at Fort Monroe. See Virginia Code 2.2-2337
• Authority: means the Virginia Alcoholic Beverage Control Authority created pursuant to this subtitle. See Virginia Code 4.1-100
• Authority: means the Fort Monroe Authority. See Virginia Code 2.2-2337
• Basic employment: means employment in an industry sector or function that directly or indirectly derives more than 50 percent of its revenue from out-of-state sources. See Virginia Code 2.2-5105
• Bequest: Property gifted by will.
• Board: means the Virginia Growth and Opportunity Board as may be established under law. See Virginia Code 2.2-5105
• Board: means the Board of Trustees created in § Virginia Code 2.2-2337
• Bonds: means any bonds, notes, interim certificates, debentures, or other obligations issued by the Authority pursuant to this article. See Virginia Code 2.2-2337
• Capital investment: means an investment in real property or tangible personal property, or both, by an eligible company within the Commonwealth. See Virginia Code 2.2-5105
• Certified company: means a Virginia employer that has been certified by the Partnership to have (i) created or caused to be created at least 200 net new basic employment jobs in the Commonwealth that are located in the participating localities with average salaries at least equal to the average wage in the participating localities and (ii) made a capital investment of at least $25 million in the participating localities. See Virginia Code 2.2-5105
• City: means the City of Hampton, Virginia, a municipal corporation of the Commonwealth of Virginia. See Virginia Code 2.2-2337
• Collaborative economic development plan: means an agreement among two or more localities that identifies commitments made by each locality to implement a collaborative approach to economic development, whether the collaboration relates to general economic development and diversification efforts by the participating localities or relates to specific economic development needs, including infrastructure and workforce training, of a company. See Virginia Code 2.2-5105
• Design Standards: means the standards developed as a requirement of the Programmatic Agreement and referred to in that document as the "Historic Preservation Manual and Design Standards" which govern the restoration, rehabilitation, and renovation of the contributing elements to the Fort Monroe National Historic Landmark District and new construction, additions, and reconstruction of buildings so they are compatible with the overall character of the District, as they may be adopted or amended from time to time. See Virginia Code 2.2-2337
• Devise: To gift property by will.
• Fund: means the Virginia Collaborative Economic Development Performance Grant Fund created pursuant to § Virginia Code 2.2-5105
• Master Plan: means the plan that identifies the long-term vision for the reuse of the Area of Operation, key implementation projects, and a detailed implementation strategy for attracting new uses and investment to the Area of Operation as approved by the Authority and produced in accordance with the public participation plan as adopted by the Authority. See Virginia Code 2.2-2337
• New job: means employment of an indefinite duration at the eligible facility, created as the direct result of the capital investment, for which the standard fringe benefits are provided by the firm for the employee, requiring a minimum of either (i) 35 hours of an employee's time a week for the entire normal year of the firm's operations, which "normal year" shall consist of at least 48 weeks, or (ii) 1,680 hours per year. See Virginia Code 2.2-5105
• Nonlegislative citizen member: means any natural person who is not a member of the General Assembly of Virginia. See Virginia Code 1-225
• Participating localities: means two or more localities that participate in a collaborative economic development plan. See Virginia Code 2.2-5105
• Partnership: means the Virginia Economic Development Partnership Authority. See Virginia Code 2.2-5105
• Programmatic Agreement: means that certain agreement, as it may be amended from time to time, entered into among the U. See Virginia Code 2.2-2337
• Quorum: The number of legislators that must be present to do business.
• Real property: means all lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto, or used in connection therewith, and every estate, interest, and right, legal or equitable, therein, including terms for years and liens by way of judgment, mortgage, or otherwise and the indebtedness secured by such liens. See Virginia Code 2.2-2337
• Reuse Plan: means the document created by the Fort Monroe Federal Area Development Authority and adopted as an official operating document on August 20, 2008, as it may be amended from time to time. See Virginia Code 2.2-2337
• Secretary: means the Secretary of Commerce and Trade. See Virginia Code 2.2-5105
• state: means the Commonwealth of Virginia or any of its agencies or departments. See Virginia Code 2.2-2200
• State Memorandum of Understanding: means an agreement between the Authority, the Secretary of Administration, the State Historic Preservation Officer, and the Governor, on behalf of all state agencies, to protect Fort Monroe and its historic, cultural, and natural assets by carefully implementing the plans, stipulations, requirements, and obligations under the Programmatic Agreement for nonfederal lands following the transfer of properties from the United States Army to the Commonwealth. See Virginia Code 2.2-2337
• Trustees: means the members of the Board of Trustees of the Authority. See Virginia Code 2.2-2337