New Construction: Consolidated Laboratories Building (16503)

1. The General Assembly hereby authorizes the Department of General Services and the Department of the Treasury to contract with the Virginia Biotechnology Research Park Authority for the financing, construction, equipping, maintenance, and operation of a new Consolidated Laboratories Building.

2. The Department of General Services is authorized to enter into a lease agreement, which shall be for a period not to exceed twenty (20) years. The first lease payment shall be made after the date of occupancy.

3. It is the intent of the General Assembly to appropriate general fund revenues sufficient to pay lease payments.

4. Prior to execution, such lease shall be subject to the reviews and approvals prescribed by §§2.1-504.2 and 2.1-179 of the Code of Virginia, and §§4-3.03 and 4-5.09 of the Appropriation Act.