Virginia Code 10.1-1021: Powers of the Foundation
In order to carry out its purposes, the Foundation shall have the following powers and duties:
Terms Used In Virginia Code 10.1-1021
- Bequest: Property gifted by will.
- Department: means the Department of Conservation and Recreation. See Virginia Code 10.1-100
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- Personal property: All property that is not real property.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1. To prepare a comprehensive plan that recognizes and seeks to implement all of the purposes for which the Foundation is created. In preparing this plan, the Foundation shall:
a. Establish criteria for the expenditure of unrestricted moneys received by the Fund. In making grants for the expenditure of such unrestricted moneys, the Board of Trustees shall consider the following criteria, not all of which need to be met in order for a grant to be awarded:
(1) The ecological, outdoor recreational, historic, agricultural, and forestal value of the property;
(2) An assessment of market values;
(3) Consistency with local comprehensive plans;
(4) Geographical balance of properties and interests in properties to be purchased;
(5) Availability of public and private matching funds to assist in the purchase;
(6) Imminent danger of loss of natural, outdoor, recreational, or historic attributes of a significant portion of the land;
(7) Economic value to the locality and region attributable to the purchase;
(8) Advisory opinions from local governments, state agencies, or others;
(9) Whether the property has been identified by ConserveVirginia and whether the proposal seeks to preserve the conservation values identified by ConserveVirginia; and
(10) Whether the property is in an area lacking outdoor recreation facilities;
b. Develop an inventory of those properties in which the Commonwealth holds a legal interest for the purpose set forth in subsection A of § 10.1-1020;
c. Develop a needs assessment for future expenditures from the Fund. In developing the needs assessment, the Board of Trustees shall consider among others the properties identified in the following: (i) ConserveVirginia, (ii) Virginia Outdoors Plan, (iii) Virginia Natural Heritage Plan, (iv) Virginia Institute of Marine Science Inventory, (v) Virginia Joint Venture Board of the North American Waterfowl Management Plan, and (vi) Virginia Board of Historic Resources Inventory. In addition, the Board shall consider any information submitted by the Department of Agriculture and Consumer Services on farmland preservation priorities and any information submitted by the Department of Forestry on forest land initiatives and inventories; and
d. Maintain the inventory and needs assessment on an annual basis.
2. To expend directly or allocate the funds received by the Foundation to the appropriate state agencies for the purpose of acquiring those properties or property interests selected by the Board of Trustees. In the case of restricted funds the Board’s powers shall be limited by the provisions of § 10.1-1022.
3. To enter into contracts and agreements, as approved by the Attorney General, to accomplish the purposes of the Foundation.
4. To receive and expend gifts, grants and donations from whatever source to further the purposes set forth in subsection B of § 10.1-1020.
5. To sell, exchange or otherwise dispose of or invest as it deems proper the moneys, securities, or other real or personal property or any interest therein given or bequeathed to it, unless such action is restricted by the terms of a gift or bequest. However, the provisions of § 10.1-1704 shall apply to any diversion from open-space use of any land given or bequeathed to the Foundation.
6. To conduct fund-raising events as deemed appropriate by the Board of Trustees.
7. To do any and all lawful acts necessary or appropriate to carry out the purposes for which the Foundation and Fund are established.
1992, c. 426; 1999, cc. 900, 906; 2000, c. 1053; 2005, c. 633; 2021, Sp. Sess. I, c. 99; 2022, c. 705.