1. The General Assembly herewith authorizes the Board of Visitors of Mary Washington College, with the approval of the Governor, to lease to the Central Virginia Educational Telecommunications Corporation (CVETC) sufficient land for the construction, operation, and maintenance of a nonprofit, noncommercial, educational television station, with offices, studios, classrooms, and communications tower facilities, together with such easements as may be necessary and convenient for access and utilities to be provided thereto.

2. The lease shall provide that CVETC will construct the station at no cost to the Commonwealth, except such access roads, utility services, parking areas, and associated common areas serving Mary Washington College, which the College may, in its sole discretion, permit CVETC to share.

3. The station and related improvements shall be designed and constructed by CVETC without regard to § 2-0 and § 4-4.00 of this act. Prior to construction, however, Mary Washington College shall approve the plans and specifications.

4. The lease agreement shall be for an initial term not to exceed twenty years, and may give CVETC the option to renew the agreement for a term, or succession of terms, of occupancy which, from the date upon which beneficial possession or occupancy first occurs, shall not exceed fifty years without the express approval of the Governor and General Assembly as provided for in § 2.1-511, Code of Virginia.

5. Upon termination of the lease for any reason, the real property and improvements shall revert to Mary Washington College and the Commonwealth, provided the CVETC shall be given the option upon such termination to purchase the communications tower facility in fee simple, including such easements as may be necessary and convenient for access and utilities services to the facility, all of which shall be described and determined by the lease.