1. A. The Authority shall have the right to acquire by purchase, lease, or grant rail facilities and other lands, structures, property, both real and personal, tangible and intangible, rights, rights-of-way, franchises, easements, and other interests therein, whether located within or not within the geographic boundaries of the Commonwealth, for the construction, operation, maintenance, and use of rail facilities.
2. B. The Authority shall have the right to hold and dispose of rail facilities and other lands, structures, property, both real and personal, tangible and intangible, rights, rights-of-way, franchises, easements, and other interests therein in the exercise of its powers and the performance of its duties under this article, including but not limited to the sale, exchange, lease, mortgage, or pledge of such property or interest therein, provided that any such disposition that involves property or interests with a fair market value in excess of $5 million shall require the consent of the Transportation Board.
3. C. The Commonwealth and any agencies or political subdivisions thereof may provide services, donate, lease, sell, convey, or otherwise transfer, with or without consideration or for minimal consideration, real or personal property and make appropriations to the Authority for the design, acquisition, construction, equipping, maintenance, and operation of rail facilities and may issue bonds in the manner provided in the Public Finance Act (§ 15.2-2600 et seq.) or in its municipal charter for the purpose of providing funds to be appropriated to the Authority; the Authority may agree to assume, or reimburse such a political subdivision for, any indebtedness incurred by such political subdivision with respect to facilities conveyed by it to the Authority.
4. D. The Authority is authorized to acquire by the exercise of the power of eminent domain any lands, property rights, rights-of-way, franchises, easements, and other property, including lands under water, riparian rights, oyster bottoms, oyster-planting grounds, public lands, parks, playgrounds, reservations, highways, or parkways, or parts thereof or rights therein, of any person, partnership, association, corporation, railroad, public service corporation, or public utility, or of any municipality, county, or other political subdivision, deemed necessary for the construction or the efficient operation of rail facilities or necessary in the restoration, replacement, or relocation of public or private property damaged or destroyed. The Authority is further authorized to acquire such property by the aforesaid means for reconveyance so long as such property is put to a public use as specified in § 1-219.1. The Authority shall exercise the power of eminent domain in the manner, and in accordance with, the procedures set forth in Chapters 2 (§ 25.1-200 et seq.), 3 (§ 25.1-300 et seq.), and 4 (§ 25.1-400 et seq.) of Title 25.1. The Authority's use of the procedures set out in Chapter 3 (§ 25.1-300 et seq.) of Title 25.1 shall not be subject to the provisions of § 25.1-102.
5. E. The acquisition of any such property by condemnation or by the exercise of the power of eminent domain for the purposes provided herein shall be and is declared to be a public use of such property.
6. F. The provisions of § 33.2-1014 shall apply, mutatis mutandis, to any condemnation by the Authority.
7. G. The Authority is authorized to acquire by purchase or the exercise of the power of eminent domain an entire tract of land or any part thereof when a portion of the tract is to be used for the Authority's purposes and (i) the remainder of such tract or part thereof can no longer be utilized for the purpose for which the entire tract is used prior to such acquisition; (ii) a portion of a building is to be taken; (iii) the cost of removal or relocation of the buildings or other improvements on the remaining portion necessitated by the taking would exceed the cost of destroying such buildings or other improvements; (iv) the project will leave the remaining portions without access to a public highway; or (v) in the judgment of the Authority, the resulting damages to the remainder of such tract or part thereof lying outside the proposed acquisition will approximate or equal the fair market value of such remaining lands. However, the condemnor shall not acquire an uneconomic remnant if the owner objects and desires to maintain ownership of the excess property. Nothing in this section shall be construed as preventing the Authority from complying, where applicable, with the provisions of §§ 1-219.1 and 25.1-417. The acquisition of such residue parcels is hereby declared to be in the public interest and constitutes a public use as the term public use is used in Article I, § 11 of the Constitution of Virginia.

2020, cc. 1230, 1275; 2026, c. 924.