In order to carry out its purposes, the Foundation shall have the followingpowers and duties:
1. To prepare a comprehensive plan that recognizes and seeks to implement allof the purposes for which the Foundation is created. In preparing this plan,the Foundation shall:
a. Develop a strategic plan for the expenditure of unrestricted moneysreceived by the Fund. In developing a strategic plan for expendingunrestricted moneys from the Fund, the Board of Trustees shall establishcriteria for the expenditure of such moneys. The plan shall take into accountthe purposes for which restricted funds have been expended or earmarked. Suchcriteria may include:
(1) The ecological, outdoor recreational, historic, agricultural and forestalvalue 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 bepurchased;
(5) Availability of public and private matching funds to assist in thepurchase;
(6) Imminent danger of loss of natural, outdoor, recreational or historicattributes of a significant portion of the land;
(7) Economic value to the locality and region attributable to the purchase;and
(8) Advisory opinions from local governments, state agencies or others;
b. Develop an inventory of those properties in which the Commonwealth holds alegal interest for the purpose set forth in subsection A of § 10.1-1020;
c. Develop a needs assessment for future expenditures from the Fund. Indeveloping the needs assessment, the Board of Trustees shall consider amongothers the properties identified in the following: (i) Virginia OutdoorsPlan, (ii) Virginia Natural Heritage Plan, (iii) Virginia Institute of MarineScience Inventory, (iv) Virginia Joint Venture Board of the North AmericanWaterfowl Management Plan, and (v) Virginia Board of Historic ResourcesInventory. In addition, the Board shall consider any information submitted bythe Department of Agriculture and Consumer Services on farmland preservationpriorities and any information submitted by the Department of Forestry onforest 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 theappropriate state agencies for the purpose of acquiring those properties orproperty interests selected by the Board of Trustees. In the case ofrestricted 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 AttorneyGeneral, to accomplish the purposes of the Foundation.
4. To receive and expend gifts, grants and donations from whatever source tofurther 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 themoneys, securities, or other real or personal property or any interesttherein given or bequeathed to it, unless such action is restricted by theterms of a gift or bequest. However, the provisions of § 10.1-1704 shallapply to any diversion from open-space use of any land given or bequeathed tothe Foundation.
6. To conduct fund-raising events as deemed appropriate by the Board ofTrustees.
7. To do any and all lawful acts necessary or appropriate to carry out thepurposes for which the Foundation and Fund are established.
(1992, c. 426; 1999, cc. 900, 906; 2000, c. 1053; 2005, c. 633.)
In order to carry out its purposes, the Foundation shall have the followingpowers and duties:
1. To prepare a comprehensive plan that recognizes and seeks to implement allof the purposes for which the Foundation is created. In preparing this plan,the Foundation shall:
a. Develop a strategic plan for the expenditure of unrestricted moneysreceived by the Fund. In developing a strategic plan for expendingunrestricted moneys from the Fund, the Board of Trustees shall establishcriteria for the expenditure of such moneys. The plan shall take into accountthe purposes for which restricted funds have been expended or earmarked. Suchcriteria may include:
(1) The ecological, outdoor recreational, historic, agricultural and forestalvalue 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 bepurchased;
(5) Availability of public and private matching funds to assist in thepurchase;
(6) Imminent danger of loss of natural, outdoor, recreational or historicattributes of a significant portion of the land;
(7) Economic value to the locality and region attributable to the purchase;and
(8) Advisory opinions from local governments, state agencies or others;
b. Develop an inventory of those properties in which the Commonwealth holds alegal interest for the purpose set forth in subsection A of § 10.1-1020;
c. Develop a needs assessment for future expenditures from the Fund. Indeveloping the needs assessment, the Board of Trustees shall consider amongothers the properties identified in the following: (i) Virginia OutdoorsPlan, (ii) Virginia Natural Heritage Plan, (iii) Virginia Institute of MarineScience Inventory, (iv) Virginia Joint Venture Board of the North AmericanWaterfowl Management Plan, and (v) Virginia Board of Historic ResourcesInventory. In addition, the Board shall consider any information submitted bythe Department of Agriculture and Consumer Services on farmland preservationpriorities and any information submitted by the Department of Forestry onforest 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 theappropriate state agencies for the purpose of acquiring those properties orproperty interests selected by the Board of Trustees. In the case ofrestricted 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 AttorneyGeneral, to accomplish the purposes of the Foundation.
4. To receive and expend gifts, grants and donations from whatever source tofurther 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 themoneys, securities, or other real or personal property or any interesttherein given or bequeathed to it, unless such action is restricted by theterms of a gift or bequest. However, the provisions of § 10.1-1704 shallapply to any diversion from open-space use of any land given or bequeathed tothe Foundation.
6. To conduct fund-raising events as deemed appropriate by the Board ofTrustees.
7. To do any and all lawful acts necessary or appropriate to carry out thepurposes for which the Foundation and Fund are established.
(1992, c. 426; 1999, cc. 900, 906; 2000, c. 1053; 2005, c. 633.)
In order to carry out its purposes, the Foundation shall have the followingpowers and duties:
1. To prepare a comprehensive plan that recognizes and seeks to implement allof the purposes for which the Foundation is created. In preparing this plan,the Foundation shall:
a. Develop a strategic plan for the expenditure of unrestricted moneysreceived by the Fund. In developing a strategic plan for expendingunrestricted moneys from the Fund, the Board of Trustees shall establishcriteria for the expenditure of such moneys. The plan shall take into accountthe purposes for which restricted funds have been expended or earmarked. Suchcriteria may include:
(1) The ecological, outdoor recreational, historic, agricultural and forestalvalue 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 bepurchased;
(5) Availability of public and private matching funds to assist in thepurchase;
(6) Imminent danger of loss of natural, outdoor, recreational or historicattributes of a significant portion of the land;
(7) Economic value to the locality and region attributable to the purchase;and
(8) Advisory opinions from local governments, state agencies or others;
b. Develop an inventory of those properties in which the Commonwealth holds alegal interest for the purpose set forth in subsection A of § 10.1-1020;
c. Develop a needs assessment for future expenditures from the Fund. Indeveloping the needs assessment, the Board of Trustees shall consider amongothers the properties identified in the following: (i) Virginia OutdoorsPlan, (ii) Virginia Natural Heritage Plan, (iii) Virginia Institute of MarineScience Inventory, (iv) Virginia Joint Venture Board of the North AmericanWaterfowl Management Plan, and (v) Virginia Board of Historic ResourcesInventory. In addition, the Board shall consider any information submitted bythe Department of Agriculture and Consumer Services on farmland preservationpriorities and any information submitted by the Department of Forestry onforest 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 theappropriate state agencies for the purpose of acquiring those properties orproperty interests selected by the Board of Trustees. In the case ofrestricted 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 AttorneyGeneral, to accomplish the purposes of the Foundation.
4. To receive and expend gifts, grants and donations from whatever source tofurther 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 themoneys, securities, or other real or personal property or any interesttherein given or bequeathed to it, unless such action is restricted by theterms of a gift or bequest. However, the provisions of § 10.1-1704 shallapply to any diversion from open-space use of any land given or bequeathed tothe Foundation.
6. To conduct fund-raising events as deemed appropriate by the Board ofTrustees.
7. To do any and all lawful acts necessary or appropriate to carry out thepurposes for which the Foundation and Fund are established.
(1992, c. 426; 1999, cc. 900, 906; 2000, c. 1053; 2005, c. 633.)
