A. Notwithstanding any provision of law, Virginia Commonwealth University (VCU) shall immediately transfer the certain lot of land, commonly known as First African Baptist Church, with church buildings and improvements thereon, lying and being in the City of Richmond, Virginia, specifically parcel VI as described in survey plan T-R99355-01 prepared by Draper Aden Associates stamped September 13, 2001, to Virginia State University (VSU).

B. It is the intent of the General Assembly that the reuse of this property by VSU involves academic, historic preservation, and museum purposes.

C. VSU assumes, directly or indirectly, all responsibility for the operation and maintenance of the property.

D. The transfer of the property pursuant to paragraph A is conditioned upon the existence of a binding agreement between VCU and VSU that (a) provides that if VSU discontinues use for academic, historic preservation or museum purposes or conveys the property other than by lease to Virginia Union University, title to the property will revert to VCU and (b) updates the property survey for the purpose of revising the ownership tax records for the City of Richmond.