§ 33.1-90.2. Same; reconveyance where property deemed suitable for mass transit purposes
In the event any real property which, under the provisions of § 33.1-90, is or may become eligible for reconveyance and is deemed suitable for the mass transit purposes of a public agency, authority, instrumentality or public service corporation or company, and such entity has submitted tentative plans to the Commissioner for a mass transit facility utilizing such real property, or portions thereof, and, prior to the eligibility of that real property for reconveyance under § 33.1-90 et seq., the Commissioner has approved the use of such real property for mass transit purposes, such real estate shall not be eligible for reconveyance under those sections. Upon the formulation of final plans for the facility, the Commissioner is authorized to enter into an agreement with any of the above-described entities for the conveyance of the property to such entity. Any property or portions thereof not necessary for the mass transit facility shall become eligible for reconveyance under the provisions of § 33.1-90 upon a determination of the final plans for the facility. Such agreement shall provide for the payment to the Commonwealth of an amount equal to that expended by the Commonwealth in the acquisition of such real property including proportionate administrative costs and costs under the Uniform Relocation and Real Property Acquisition Act. Upon payment of the agreed consideration, the Commissioner shall convey the specified property to the facility. However, if construction of such planned facilities is not commenced within ten years from the date of the agreement between the transit agency and the Commissioner, the persons who would otherwise have been authorized to petition for reconveyance under § 33.1-90 or their heirs or assigns may seek reconveyance under the same procedures and on the same basis as established in § 33.1-90.
This section shall not compel the Commissioner to convey any such property to such entities in contravention of any federal law or regulation affecting the disposition of real property acquired for highway purposes when such property is no longer needed for such purposes when such property has been acquired with federal funding participation.
(1976, c. 724; 1992, c. 108.)
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