Terms Used In Virginia Code > Title 2.2 > Subtitle I > Part C > Chapter 11 > Article 5 - Abatement of Risk of Asbestos in State-Owned and Public School Buildings

• Asbestos: means any material containing more than one percent of the asbestiform varieties of:

  1. See Virginia Code 2.2-1162

• Authority: means the Virginia Economic Development Partnership Authority. See Virginia Code 2.2-2760
• Board: means the governing board of the Virginia College Savings Plan. See Virginia Code 2.2-2744
• Commission: means the MEI Project Approval Commission established by § 30-309. See Virginia Code 2.2-2760
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of General Services. See Virginia Code 2.2-2760
• Development: means improvements designed to prepare a site for construction or higher use than was possible in the site's natural state or its state at the time of acquisition. See Virginia Code 2.2-2760
• Director: means the Director of the Department of General Services. See Virginia Code 2.2-1162
• Due diligence: means undertaking (i) necessary land title, valuation, environmental, engineering, or technical studies; (ii) professional or consulting services related to a site or site selection; or (iii) any other similar activities. See Virginia Code 2.2-2760
• Eligible acquisition site: means a site suitable to be marketed for economic development purposes. See Virginia Code 2.2-2760
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fund: means the Virginia Business Ready Sites Acquisition Fund established by § 2. See Virginia Code 2.2-2760
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Large-scale economic development project: means an economic development project that involves a capital investment of at least $250 million and that creates at least 250 new jobs. See Virginia Code 2.2-2760
• 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}
• Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Program: means the state-facilitated IRA savings program established in this chapter and administered by the Plan. See Virginia Code 2.2-2744
• Program: means the Virginia Business Ready Sites Acquisition Program established by § 2. See Virginia Code 2.2-2760
• Project development agreement: means an agreement by which the Authority sells, leases, transfers, or otherwise disposes of an eligible acquisition site to a private employer for a large-scale economic development project. See Virginia Code 2.2-2760
• Response actions: means any action, including removal, encapsulation, enclosure, repair, method of operation, maintenance, record keeping or notification that protects human health from building materials containing asbestos. See Virginia Code 2.2-1162
• Secretary: means the Secretary of Administration. See Virginia Code 2.2-1162
• Site acquisition activities: means the completion of due diligence activities, as well as the purchasing or optioning of an eligible acquisition site for purposes of the Program. See Virginia Code 2.2-2760
• Site development activities: means development of a site. See Virginia Code 2.2-2760
• 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
• United States: includes 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 1-255