Acquisition:  Acquire Property, Downtown Campus, J. Sargeant Reynolds (17791)

The Virginia Community College System, with the approval of the Governor or as otherwise provided by law, is authorized to acquire, by exchange, and  at  a cost of up to $369,000 to the Commonwealth, such amount to be paid  from J. Sargeant Reynolds Community College's nongeneral fund resources at such time as the college expands its downtown campus facilities to utilize the air rights conveyed as part of the exchange, certain real property described generally as approximately 6,987 square feet of  land, more or less, situated adjacent to the downtown campus of J. Sargeant Reynolds Community College and approximately 7,559 square feet between Duval Street and Interstate 95 in the city of Richmond, and air rights over land situated between the parcels, and air rights over land below; in exchange for approximately 6,270 square feet of State Board for Community College property on the downtown campus of J. Sargeant Reynolds Community College; said conveyances being for the beneficial purpose of street improvements by the city of Richmond.  Prior to acceptance of said property, assurances satisfactory to the Virginia Community College System and the Governor shall be made indicating that the property is free from hazardous materials and conditions.