2008 Session

Budget Bill - HB29 (Introduced)

Virginia Commonwealth University

Item C-144

Item C-144 (Not set out)

First Year - FY2007Second Year - FY2008
New Construction: Construct Medical Sciences Building, Phase II (16721)$25,700,000$0
Fund Sources:  
GeneralFY2007 $8,000,000FY2008 $0
Higher Education OperatingFY2007 $12,341,000FY2008 $0
Bond ProceedsFY2007 $5,359,000FY2008 $0

A.  This Item contains supplemental funding to construct the Medical Sciences Building, Phase II originally authorized in 2002 (Chapters 827 and 859, 2002 Acts of Assembly).  Additional funds are also provided in this Item for equipment.  The total cost of the project with the supplement and equipment funding is $64,000,000.

B. Space in the Medical Sciences Building II shall be dedicated to multidisciplinary research programs, institutes and state-of-the art classrooms.

C. The amount of cost overrun supplement for this project is fund split based on the state policy regarding research facilities. Of the $12.0 million cost overrun, $4.0 million is expected to be funded through nongeneral fund sources from research activities. The remaining amount is eligible for support from funds provided under Item 325.10.