2012 Session

Budget Amendments - SB30 (Committee Approved)

NSU: Student Housing (language only)

Item C-13.50 #1s

Item C-13.50 #1s

Education: Higher Education
Norfolk State University

Page 374, following line 31, insert:
"Item 13.50 1. Subject to the provisions of this act, the General Assembly authorizes Norfolk State University to enter into a written agreement or agreements with a Foundation of the University for the development of one or more student housing projects on or 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 a Foundation of the University 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."

"C-13.50 Refinance Student Housing and Parking Deck
Fund Sources: Bond Proceeds

(This amendment allows Norfolk State University to enter into written agreements with university foundations for student housing.)