2004 Session

Budget Amendments - HB29 (Committee Approved)

LU - Housing (language only)

Item C-152.10 #4h

Item C-152.10 #4h

Central Appropriations
Central Capital Outlay

Page 281, after line 26, insert:
That the language for Longwood University alternative financing of housing in Item C-25.05, Chapter 1042, of the Acts of Assembly of 2003, shall be changed to reflect the language below during enrolling of House Bill 29:
"1. Subject to § 4-4.01 x. of this act, the General Assembly authorizes Longwood University to enter into a written agreement or agreements with the Longwood University Real Estate Foundation (LUREF) to support student housing projects through alternative financing agreements including public-private partnerships, provided that said projects do not result in a net increase in the number of beds available at Longwood unless the University can demonstrate that private sector alternatives are either not available or not economically impacted by such agreements.
2. Longwood University is further authorized to enter into written agreements with LUREF to support such student housing facilities.  The support may include agreements 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 requests a change to alternative financing authority granted Longwood University during the 2003 Session. This amendment would be drawn to Item C-25.05, Chapter 1042 of the Acts of Assembly of 2003, during enrolling of House Bill 29.)