2005 Session

Budget Bill - HB1500 (Chapter 951)

Virginia Commonwealth University

Item C-77.20

Item C-77.20

First Year - FY2005Second Year - FY2006
Acquisition: University Ad Center (17200)$7,000,000$0
Fund Sources:  
Bond ProceedsFY2005 $7,000,000FY2006 $0

As an alternative to debt financing, Virginia Commonwealth University, with approval of the Governor as provided by law, is hereby authorized to enter into a capital lease with the Virginia Commonwealth University Real Estate Foundation for development of the Central Belting Building, located on the University's Monroe Park Campus Addition, as the University's Ad Center.  Under terms of the capital lease, the University may provide up to $3,000,000 to defray the cost of the renovation.