1. Subject to § 4-4.01 x. of this act, the General Assembly authorizes Norfolk State University to enter into a written agreement or agreements with the Norfolk State University Foundation (NSUF) for the development of a public or private entity to design, construct and finance one or more student housing projects adjacent to campus, subject to the conditions outlined in the Public-Private Education Facilities Infrastructure Act of 2002. The student housing projects may be located on property owned by the Commonwealth.

2. Norfolk State University is further authorized to enter into written agreements with NSUF a public or private entity to support such student housing facilities; the support may include agreements to (i) include the student housing facilities in the University's student housing inventory; (ii) manage the operation and maintenance of the facilities, including collection of rental fees as if those students occupied University-owned housing; (iii) assign students to the facilities in preference to other University-owned facilities; (iv) restrict construction of competing student housing projects; (v) seek to obtain police power over the student housing as provided by law; and (vi) otherwise support the student housing facilities consistent with law, provided that the University shall not be required to take any action that would constitute a breach of the University's obligations under any documents or other instruments constituting or securing bonds or other indebtedness of the University or the Commonwealth of Virginia.

3. The University is further authorized to enter into a ground lease, as Lessor, with a public or private entity, as Lessee, for a term not in excess of 50 years, for that certain tract of land consisting of approximately 22,507(+ -) square feet, located between the Phyllis Wheatley dormitory on the East, Park Avenue on the South, a parcel of Property owned by Norfolk State University Foundation on the West, and Marshall Avenue on the North, said parcel being adjacent to the Norfolk State University Campus, as part of the site for the aforesaid off-campus student housing. Use of the said tract for the purpose herein stated shall be deemed to be a purpose consistent with the general mission and auxiliary enterprises of the University within the meaning of § 2.2-1155 (B) of the Code of Virginia.