2002 Session

Budget Bill - HB29 (Chapter 814)

Virginia Commonwealth University

Item C-81

Item C-81 (Not set out)

First Year - FY2001Second Year - FY2002
New Construction: Construct Housing on Academic Campus (16405)
New Construction: Construct or Acquire Housing for the Academic Campus (16405)
Fund Sources:  
Bond ProceedsFY2001 $15,346,000FY2002 $0

1. The General Assembly authorizes Virginia Commonwealth University, with approval of the Governor, to explore and evaluate an alternative financing scenario to provide the additional student housing. This project must be consistent with the guidelines of the Department of General Services and comply with the Treasury Board Guidelines issued pursuant to § 23-19 (d) (4), Code of Virginia, and any subsequent amendments thereto.

2. The General Assembly authorizes Virginia Commonwealth University to enter into a written agreement with a public or private entity to design, construct, or facilities may be located on property construct or acquire, and finance a facility to provide additional student housing. The facility or facilities may be located on property owned by the Commonwealth. All project proposals and approvals shall be in accordance with the guidelines cited in paragraph 1 of this Item.

3. If the University chooses not to utilize its 9(c) revenue bond authorization as provided in C-203 of this act, the University may pursue financing for this project pursuant to Article X, Section 9 (d) of the Constitution of Virginia as provided in this Item.