George Mason University, with the approval of the Governor as otherwise provided by law, is hereby authorized to construct space described generally as approximately 48,000 square feet in the County of Prince William, to support its mission in the area of bio-defense research and education programs. This project may be accomplished through a capital lease agreement, the annual cost of which shall not exceed $1,903,000 for a total amount of $19.7 million, and the term of which shall not exceed 20 years; or by financing through the Virginia Public Building Authority or the Twenty First Century College Program of the Virginia College Building Authority. Prior to acceptance of said space, assurances satisfactory to George Mason University and the Governor shall be made indicating that the space is free from hazardous materials and conditions and that it is in compliance with applicable Federal and State codes and standards.