Virginia Code 2.2-1150.3: Lease of state military reservation property
A. Subject to the provisions of subsection B of § 2.2-1150, the Department of Military Affairs may convey a leasehold interest in any portion of State Military Reservation property to governmental or private entities when it is deemed by the Adjutant General to be in the Department of Military Affairs’ best interest to (i) provide necessary services such as lodging, training capabilities, or logistical utility services that support the Department’s mission or (ii) maintain a peripheral buffer with compatible uses, including ground parking leases.
Terms Used In Virginia Code 2.2-1150.3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
B. Subject to the provisions of subsection B of § 2.2-1150, the term of any leasehold interest in any portion of State Military Reservation property shall not exceed 50 years; however, any agreement may be extended upon the written recommendation of the Governor and the approval of the General Assembly. In the event that the Department of Military Affairs enters into any written agreement with a private individual, firm, corporation, or other entity to lease property in the possession or control of the Department pursuant to this subsection, neither the real property that is the subject of the lease nor any improvements or personal property located on the real property that is the subject of the lease shall be subject to taxation by any local government authority pursuant to § 58.1-3203, provided that the real property, improvements, or personal property is used for a purpose consistent with or supporting the Department’s mission.
2020, c. 834.