2006 Special Session I

Budget Bill - HB5001 (Introduced)

9(C) Revenue Bonds

Item C-198

Item C-198 (Not set out)

New Construction: Construct Student Housing VII (17056)

1. The General Assembly authorizes George Mason 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 VA Uniform Statewide Building Code 7 of October 1, 2003, and comply with the Treasury Board Guidelines issued pursuant to 23-19 (d)(4) Code of Virginia, and subsequent amendments thereto.

2. The General Assembly authorizes George Mason University to enter into a written agreement with a public or private entity to design, construct, 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, 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.

4. In the event that the Student Housing VII project is financed through alternative financing and is constructed on land owned by or leased to a private University-related foundation, or owned by or leased to a private entity, such project shall continue to be exempt from all requirements of any county or city zoning ordinances; and such project shall be subject only to review of compliance with the Virginia Uniform Statewide Building Code.