Department of Housing and Community Development (165)
Request Title | Restore Funding for Enterprise Zone Program |
Biennium | 2016-2018 |
Budget Round | Amended Bill |
Half Sheet Number | 110 #1c |
Description
This amendment restores $1.0 million from the general fund of the $1.8 million from the general fund reduction proposed in the Governor's introduced budget. The Enterprise Zone Program is consistently oversubscribed with qualified recipients receiving prorated grant awards. The Real Property Improvement Grants portion of the Enterprise Zone Program was prorated at 69 percent in fiscal year 2014 and 67 percent in fiscal year 2015 (the most recent annual report available). This action mitigates the need to prorate grant awards and is consistent with the recommendations of the Enterprise Zone Program study just completed at the request of the General Assembly by the VCU Center for Urban and Regional Analysis. |
Funding Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
534 | Economic Development Services | $500,000 | $500,000 | |
By Fund | Fund Code | Fund Title | FY 2016 | FY 2017 |
01000 | General Fund | $500,000 | $500,000 |
Authorized Position Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 15:26:33