§ 10.1-603.20. Condition for making loans or grants.
A. The Director may authorize a loan or grant for flood prevention orprotection projects, or for flood prevention or protection studies under theprovisions of § 10.1-603.19 only when the following conditions exist:
1. An application for the loan or grant has been submitted by an applicant inthe manner and form specified by the Director, setting forth the amount ofthe loan or grant requested, and the use to which the loan or grant will beapplied. The application shall describe in detail (i) the area to be studiedor protected, including the population and the value of property to beprotected, historic flooding data and hydrologic studies projecting floodfrequency; (ii) the estimated cost-benefit ratio of the project; (iii) theability of the locality to provide its share of the cost; (iv) theadministration of local flood plain management regulations; and (v) othernecessary information to establish project or study priority.
2. The local government agrees and furnishes assurance, satisfactory to theDirector, that it will satisfactorily maintain any structure financed, inwhole or in part, through the loans or grants provided under this article.
3. If the requested loan or grant is sought to acquire land, the Directorshall require satisfactory evidence prior to acting on the request that thelocal government will acquire the land if the loan or grant is made.
4. A local government is eligible to receive a grant once every five years,provided that it has a flood mitigation plan approved by the Director and hasdemonstrated satisfactory evidence of plan implementation. Lacking anapproved plan the local government is eligible for a grant once every tenyears.
5. [Repealed.]
B. The Director shall develop guidance criteria for making loans and grantsfor dam safety repair projects. Priority shall be given to making loans forhigh hazard dams.
(1989, cc. 462, 498; 1995, c. 510; 2002, c. 320; 2006, cc. 648, 765.)
§ 10.1-603.20. Condition for making loans or grants.
A. The Director may authorize a loan or grant for flood prevention orprotection projects, or for flood prevention or protection studies under theprovisions of § 10.1-603.19 only when the following conditions exist:
1. An application for the loan or grant has been submitted by an applicant inthe manner and form specified by the Director, setting forth the amount ofthe loan or grant requested, and the use to which the loan or grant will beapplied. The application shall describe in detail (i) the area to be studiedor protected, including the population and the value of property to beprotected, historic flooding data and hydrologic studies projecting floodfrequency; (ii) the estimated cost-benefit ratio of the project; (iii) theability of the locality to provide its share of the cost; (iv) theadministration of local flood plain management regulations; and (v) othernecessary information to establish project or study priority.
2. The local government agrees and furnishes assurance, satisfactory to theDirector, that it will satisfactorily maintain any structure financed, inwhole or in part, through the loans or grants provided under this article.
3. If the requested loan or grant is sought to acquire land, the Directorshall require satisfactory evidence prior to acting on the request that thelocal government will acquire the land if the loan or grant is made.
4. A local government is eligible to receive a grant once every five years,provided that it has a flood mitigation plan approved by the Director and hasdemonstrated satisfactory evidence of plan implementation. Lacking anapproved plan the local government is eligible for a grant once every tenyears.
5. [Repealed.]
B. The Director shall develop guidance criteria for making loans and grantsfor dam safety repair projects. Priority shall be given to making loans forhigh hazard dams.
(1989, cc. 462, 498; 1995, c. 510; 2002, c. 320; 2006, cc. 648, 765.)
§ 10.1-603.20. Condition for making loans or grants.
A. The Director may authorize a loan or grant for flood prevention orprotection projects, or for flood prevention or protection studies under theprovisions of § 10.1-603.19 only when the following conditions exist:
1. An application for the loan or grant has been submitted by an applicant inthe manner and form specified by the Director, setting forth the amount ofthe loan or grant requested, and the use to which the loan or grant will beapplied. The application shall describe in detail (i) the area to be studiedor protected, including the population and the value of property to beprotected, historic flooding data and hydrologic studies projecting floodfrequency; (ii) the estimated cost-benefit ratio of the project; (iii) theability of the locality to provide its share of the cost; (iv) theadministration of local flood plain management regulations; and (v) othernecessary information to establish project or study priority.
2. The local government agrees and furnishes assurance, satisfactory to theDirector, that it will satisfactorily maintain any structure financed, inwhole or in part, through the loans or grants provided under this article.
3. If the requested loan or grant is sought to acquire land, the Directorshall require satisfactory evidence prior to acting on the request that thelocal government will acquire the land if the loan or grant is made.
4. A local government is eligible to receive a grant once every five years,provided that it has a flood mitigation plan approved by the Director and hasdemonstrated satisfactory evidence of plan implementation. Lacking anapproved plan the local government is eligible for a grant once every tenyears.
5. [Repealed.]
B. The Director shall develop guidance criteria for making loans and grantsfor dam safety repair projects. Priority shall be given to making loans forhigh hazard dams.
(1989, cc. 462, 498; 1995, c. 510; 2002, c. 320; 2006, cc. 648, 765.)
