Virginia Law

Any prospective benefited business may file a business improvement and recruitment district plan with the clerk of a locality. The business improvement and recruitment district plan shall contain the following:

1. A map of the proposed business improvement and recruitment district;

2. A description of the boundaries of the business improvement and recruitment district proposed for establishment or extension in a manner sufficient to identify the businesses included;

3. The activities proposed and the projected cost thereof;

4. A description of how businesses included within the business improvement and recruitment district or who may relocate to such district will benefit;

5. The total estimated annual amount proposed to be expended for all costs relating to business improvement and recruitment district operation and implementation of activities and the manner in which benefited businesses will be charged a fee;

6. The proposed source or sources of financing;

7. The proposed time for implementation and completion of the business improvement and recruitment district plan;

8. The weighting methodology for calculating a majority share of benefited businesses for the business improvement and recruitment district;

9. Any proposals for rules and regulations to be applicable to the business improvement and recruitment district;

10. Identification of an entity charged with promoting business activity in that locality or region;

11. Identification of businesses in the business improvement and recruitment district who may be eligible for a reduction in any taxes levied pursuant to Chapter 37 (§ 58.1-3700 et seq.) of Title 58.1 and a process to effectuate any such reduction, if deemed; and

12. Any other item or matter that the locality requires to be included in the business improvement and recruitment district plan.

2023, c. 745.