2002 Session

Budget Amendments - SB30 (Committee Approved)

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VSU Off Campus Student Housing

Item C-82 #1s

Item C-82 #1s

First Year - FY2003 Second Year - FY2004
Education: Higher Education
Virginia State University FY2003 $500,000 FY2004 $0 NGF

Page 395, line 16, after "C-82" insert:
"Acquisition:  Off-Campus Student Housing......................$500,000
  Fund Sources:  Higher Education Operating.....................$500,000".
Page 395, after line 38 insert:
"From such auxiliary funds as it may have at its disposal, or may receive for this purpose by way of gift, Virginia State University is authorized to purchase that certain tract of land consisting of approximately fifteen acres located in the northeast quadrant of the intersection of Hickory and Woodpecker Roads in the Matoaca Magisterial District of Chesterfield County, Virginia, and thereupon enter into a ground lease of the said tract with its related foundation for a term not in excess of fifty years as the site of the aforesaid off campus student  apartments.  Use of the said tract for the purpose herein stated shall be deemed to be a purpose consistent with the general mission and auxiliary enterprises of the University within the meaning of Section 2.2-1155(B), Code of Virginia."

(This amendment provides nongeneral funds and language authorizing acquisition of a piece of property for off-campus student housing.)