Virginia First Cities wholly endorses SB 1476 as a great bill that helps us remediate blight and get properties (with deference to owner checks and balances) back on the tax rolls, productive and attractive.
While market forces are generally relied upon to stimulate investment and development in our urban areas, we are seeing a preponderance of circumstances where absentee property ownership or inefficient markets serve as a deterrent to redevelopment.
Sometimes this lack of investment also results in health and safety concerns, as VFC can provide numerous examples from our member cities, and as Senator Pillion and Bristol, Va found with Virginia Intermont College.
SB 1476 is a response to a particular and tragic circumstance in Bristol, Virginia, but sadly, it is a story that has played out across Virginia.
We urge your support for SB 1476.
Virginia First Cities wholly endorses SB 1476 as a great bill that helps us remediate blight and get properties (with deference to owner checks and balances) back on the tax rolls, productive and attractive. While market forces are generally relied upon to stimulate investment and development in our urban areas, we are seeing a preponderance of circumstances where absentee property ownership or inefficient markets serve as a deterrent to redevelopment. Sometimes this lack of investment also results in health and safety concerns, as VFC can provide numerous examples from our member cities, and as Senator Pillion and Bristol, Va found with Virginia Intermont College. SB 1476 is a response to a particular and tragic circumstance in Bristol, Virginia, but sadly, it is a story that has played out across Virginia. We urge your support for SB 1476.