Item C-48 | First Year - FY2019 | Second Year - FY2020 |
|---|---|---|
| 2016 VCBA Capital Construction Pool (18301) | $43,883,000 | $0 |
| Fund Sources: | ||
| Bond Proceeds | FY2019 $43,883,000 | FY2020 $0 |
A. In addition to the amount previously authorized in Enactment Clause 1, §2 of Chapters 759 and 769, 2016 Acts of Assembly, the Virginia College Building Authority, pursuant to § 23.1-1200 et seq. of the Code of Virginia, is authorized to issue bonds in a principal amount not to exceed $43,883,000, plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, to finance the capital costs of projects authorized in Enactment Clause 1, § 2 of Chapters 759 and 769, 2016 Acts of Assembly.
B. Debt service on the bonds issued under the authorization of this Item shall be provided from appropriations to the Treasury Board.
C. There is hereby appropriated $43,883,000 in bond proceeds for the projects authorized in Enactment Clause 1, § 2 of Chapters 759 and 769, 2016 Acts of Assembly. Of this amount, $883,000 is allocated for the following project authorized in that section:
| 948-Southwest Virginia Higher Education Center | Construct Service Corridor, Storage Area; |
D. 1. The title and scope of the project previously authorized in Enactment 1, §2 of Chapters 759 and 769, 2016 Acts of Assembly, as "Construct Service Corridor, Storage Area, Replace Generator" are hereby changed to "Construct Building Expansion and Replace Generator" in order to provide an expanded scope, including additional space that may be used as office or storage space, with total square footage of approximately 6,400 square feet.
2. The scope of the project previously authorized in Enactment 1, §2 of Chapters 759 and 769, 2016 Acts of Assembly, as "Christopher Newport University, Construct and Renovate Fine Arts and Rehearsal Space reflects 105,040 gross square feet to include 88,060 gross square feet of new construction and 16,980 gross square feet of renovation. Of the amount provided in Paragraph C. of this Item, $4 million is allocated to this project to cover current scope and cost.
3. The title and scope of the project previously authorized in Enactment 1, §2 of Chapters 759 and 769, 2016 Acts of Assembly, as "Virginia Institute of Marine Science, Replace Mechanical Systems and Repair Building Envelope of Chesapeake Bay Hall" are hereby changed to "Virginia Institute of Marine Science, Construct New Research Facility" in order to replace the existing Chesapeake Hall, for which a renovation is no longer a viable alternative, with a comparable sized new facility. Additional funding for this revised scope and cost is contained in Paragraph C. of this item.
E. Virginia Commonwealth University is authorized to utilize nongeneral funds, to be reimbursed should construction funding be approved, to develop Detailed Plans for the STEM Building which consists of the STEM Class Laboratory Building, authorized in Chapter 759 and 769 (2016), and the Humanities and Sciences Phase II, Admin and Classroom Building, as a single facility. The proposed buildings will be located adjacent to each other on the site of the existing Franklin Street Gymnasium.
F. The title of the project, "Renovate Diggs/Moore/Harrison Complex, Hampton, Thomas Nelson," for the Virginia Community College System, authorized for detailed planning in Enactment 4, § 1 of Chapters 759 and 769, 2016 Acts of Assembly. is changed to "Replace Diggs/Moore/Harrison Complex, Hampton, Thomas Nelson.