2014 Session

Budget Amendments - HB30 (Committee Approved)

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General Conditions (language only)

Item C-0 #1h

Item C-0 #1h

General Conditions
General Conditions

Page 422, after line 51, insert:
"c. The General Assembly further authorizes Longwood University to enter into a written agreement with a public or private entity to plan, design, develop, construct, finance, manage, and operate a facility or facilities to provide additional student housing and/or operational-related facilities.  Longwood University is also authorized to enter into a written agreement with the public or private entity to lease all or a portion of the facilities. The State Treasurer is authorized to make Treasury loans to provide interim financing for planning, construction, and other costs of any of the projects. Revenue bonds issued by or for the benefit of LUREF will provide construction and/or permanent financing.
d.  Longwood is further authorized to convey fee simple title in and to one or more parcels of land to LUREF, which will develop and use the land for the purpose of developing and establishing residential housing for students and/or faculty and staff, office, retail, athletics, dining, student services, and other auxiliary activities and commercial land use in accordance with the University's Master Plan."

(This amendment provides authority similar to other institutions related to public-private agreements as well as authority to convey land.)