2003 Session

Budget Amendments - SB700 (Committee Approved)

Alternative Financing Language for NSU (language only)

Item C-28.30 #1s

Item C-28.30 #1s

Education: Higher Education
Norfolk State University

Page 517, after line 2, insert:
"1. Subject to §4-4.01x, the General Assembly authorizes Norfolk State University to enter into a written agreement or agreements with the Norfolk State University Foundation (NSUF) for the development of one or more student housing projects adjacent to campus subject to the conditions outlined in the Public-Private Education Facilities Infrastructure Act of 2002.  
2. Norfolk State University is further authorized to enter into written agreements with NSUF to support such student housing facilities, which support may include agreement to (i) include the student housing facilities in the university's student housing inventory; (ii) manage the operation and maintenance of the facilities, including collection of rental fees as if those students occupied university-owned housing; (iii) assign students to the facilities in preference to other university-owned facilities; (iv) restrict construction of competing student housing projects; (v) seek to obtain police power over the student housing as provided by law; and (vi) otherwise support the student housing facilities consistent with law, provided that the university shall not be required to take any action that would constitute a breach of the university's obligations under any documents or other instruments constituting or securing bonds or other indebtedness of the university or the Commonwealth of Virginia."

(This amendment authorizes Norfolk State University to enter a public-private partnership for student housing.)