Item C-29 | First Year - FY2027 | Second Year - FY2028 |
|---|---|---|
| 2026 Capital Construction Pool (18805) | $1,336,094,534 | $220,000,000 |
| Fund Sources: | ||
| General | FY2027 $360,061,238 | FY2028 $0 |
| Higher Education Operating | FY2027 $48,800,000 | FY2028 $0 |
| Bond Proceeds | FY2027 $927,233,296 | FY2028 $220,000,000 |
A.1. The capital projects in paragraph B. of this Item are hereby authorized and may be financed in whole or in part through bonds of the Virginia College Building Authority pursuant to § 23.1-1200 et seq., Code of Virginia, or the Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia. Bonds of the Virginia College Building Authority issued to finance these projects may be sold and issued under the 21st Century College Program at the same time with other obligations of the Authority as separate issues or as a combined issue. The aggregate principal amounts shall not exceed $1,109,976,618 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, in accordance with § 2.2-2263, Code of Virginia.
2. From the list of projects included in paragraph B. of this Item, the Director, Department of Planning and Budget, shall provide to the Chairmen of the Virginia College Building Authority and the Virginia Public Building Authority the specific projects, as well as the amounts for these projects, to be financed by each authority within the dollar limit established by this authorization.
3. Debt service on the projects contained in this Item shall be provided from appropriations to the Treasury Board.
B. There is hereby appropriated $360,061,238 the first year from the general fund, $889,976,618 the first year and $220,000,000 the second year from bond proceeds of the Virginia Public Building Authority or the Virginia College Building Authority, and $86,056,678 the first year from nongeneral funds for the construction, acquisition, and other capital costs of the following projects subject to the pool process delineated in § 2.2-1515 et. seq., Code of Virginia. Nongeneral fund amounts include $37,256,678 authorized from bonds pursuant to Article X, Section 9(d), Constitution of Virginia, as specified in Item C-38 of this Act.
Agency Code | Agency Title | Project Title | |
194 | Department of General Services | Commonwealth Courts Building (18537) | |
208 | Virginia Polytechnic Institute and State University | Expand Virginia Tech-Carilion School of Medicine and Fralin Biomedical Research Institute (18682) |
|
211 | Virginia Military Institute | Construct Center for Leadership and Ethics Facility, Phase II, and Parking Structure (18542) |
|
212 | Virginia State University | Renovate Virginia Hall (18757) |
|
214 | Longwood University | Replace Roof, Windows, and External Doors at Lankford Hall |
|
214 | Longwood University | Improve Public Safety, External ADA Access, and Campus Infrastructure Efficiency |
|
216 | James Madison University | Renovate Johnston Hall (18758) |
|
218 | Virginia School for the Deaf and the Blind | Upgrade Mass Communication System |
|
221 | Old Dominion University | Construct Engineering and Arts Building (18741) |
|
236 | Virginia Commonwealth University | Acquire Altria Building |
|
236 | Virginia Commonwealth University | Construct New School of Dentistry (18676) |
|
260 | Virginia Community College System | Renovate Amherst/Campbell Hall, Central Virginia (18343) |
|
268 | Virginia Institute of Marine Science | Construct Marine Operations Administration Complex (18746) |
|
777 | Department of Juvenile Justice | Replace Emergency Back-up Generator at Bon Air Juvenile Correctional Center Cottages |
|
885 | Institute for Advanced Learning and Research | Expand Center for Manufacturing Advancement (18705) |
|
C. The Department of General Services may serve as the project manager responsible for overseeing and coordinating the project to Renovate Virginia Hall (18757) with Virginia State University.
D. To execute the project titled "Acquire Altria Building," Virginia Commonwealth University (VCU) shall remit lease payments above the actual operating costs of the building to the general fund or shall reduce the general fund portion of the purchase price equal to the amount of such excess lease payments while VCU leases space in the building to Altria or any other entity not related to Virginia Commonwealth University or the Virginia Commonwealth University Health System Authority.