Terms Used In Virginia Code > Title 2.2 > Subtitle I > Part D > Chapter 27.2 - Virginia Business Ready Sites Acquisition Fund and Program

• Authority: means the Virginia Economic Development Partnership Authority. See Virginia Code 2.2-2760
• Commission: means the MEI Project Approval Commission established by § 30-309. See Virginia Code 2.2-2760
• Commissioner: means the Commissioner of Agriculture and Consumer Services. See Virginia Code 3.2-100
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Dealer: means any person that acquires nursery stock for the purpose of resale and distribution who is not a grower of nursery stock. See Virginia Code 3.2-3800
• Department: means the Department of General Services. See Virginia Code 2.2-2760
• Development: means improvements designed to prepare a site for construction or higher use than was possible in the site's natural state or its state at the time of acquisition. See Virginia Code 2.2-2760
• Due diligence: means undertaking (i) necessary land title, valuation, environmental, engineering, or technical studies; (ii) professional or consulting services related to a site or site selection; or (iii) any other similar activities. See Virginia Code 2.2-2760
• Eligible acquisition site: means a site suitable to be marketed for economic development purposes. See Virginia Code 2.2-2760
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fund: means the Virginia Business Ready Sites Acquisition Fund established by § Virginia Code 2.2-2760
• Inspection certificate: means a document in any form issued by the Commissioner, or the appropriate official from another state, declaring an item or location to be apparently free from plant pests. See Virginia Code 3.2-3800
• Large-scale economic development project: means an economic development project that involves a capital investment of at least $250 million and that creates at least 250 new jobs. See Virginia Code 2.2-2760
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
• Nursery: means any premises where nursery stock is propagated, grown, fumigated, treated, packed, stored, or otherwise prepared for sale or distribution. See Virginia Code 3.2-3800
• Nursery stock: means all trees, shrubs, woody vines (including ornamentals), bush fruits, grapevines, fruit trees, and nut trees offered for sale and distribution; all buds, grafts, scions, and cuttings from such plants; and any container, soil, and other packing material with such plants or plant products. See Virginia Code 3.2-3800
• Nurseryman: means any person that produces nursery stock for sale or distribution. See Virginia Code 3.2-3800
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means the term as defined in § 1-230. See Virginia Code 3.2-3800
• Plant pest: means any living stage of insects, mites, nematodes, slugs, snails, protozoa, other invertebrate animals, bacteria, fungi, other parasitic plants, parasitic plant parts, viruses, any other similar organism, or any infectious substances that can injure, infect, or damage any plants or plant products. See Virginia Code 3.2-3800
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Program: means the Virginia Business Ready Sites Acquisition Program established by § Virginia Code 2.2-2760
• Project development agreement: means an agreement by which the Authority sells, leases, transfers, or otherwise disposes of an eligible acquisition site to a private employer for a large-scale economic development project. See Virginia Code 2.2-2760
• Site acquisition activities: means the completion of due diligence activities, as well as the purchasing or optioning of an eligible acquisition site for purposes of the Program. See Virginia Code 2.2-2760
• Site development activities: means development of a site. See Virginia Code 2.2-2760
• 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