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2026 Session

Budget Amendments - SB30 (Member Request)

Chief Patron: Diggs
CNU - Property Acquisition from Foundation

Item C-1.10 #1s

Item C-1.10 #1s

First Year - FY2027 Second Year - FY2028
Education: Higher Education
Christopher Newport University FY2027 $25,000,000 FY2028 $0 GF

Language
Page 568, after line 39, insert:

"C-1.10 Acquisition: Acquire Foundation Owned Properties$25,000,000$0
Fund Sources:  General $25,000,000 $0 "


Explanation

(This amendment provides $25.0 million GF the first year for the acquisition of three properties leased from the Christopher Newport University Real Estate Foundation by Christopher Newport University. Properties include CNU Administration Building, and adjacent corner green space, and the Campus Police Department, which would alleviate the annual $1.5 million lease payments.)