2006 Special Session I

Budget Bill - HB5012 (Introduced)

Virginia Military Institute

Item C-119.18

Item C-119.18

First Year - FY2005Second Year - FY2006
New Construction: Construct Leadership and Ethics Center and Parking Facility (17163)$0$13,000,000
Fund Sources:  
Higher Education OperatingFY2005 $0FY2006 $13,000,000

The Virginia Military Institute may acquire or construct this project in accordance with any one of the following financing options:

1. Construct this project using private funds from one or more of its alumni agencies;

2. Construct this project using 9(d) revenue bonds issued through the Virginia College Building Authority;

3. Construct this project in accordance with the provisions of the Public-Private Education Facilities and Infrastructure Act of 2002 (PPEA); or

4. Select one of its alumni agencies to design, construct, and finance the project and lease the facility to VMI in a lease/lease-back structure.