Virginia SB773 allows the State Board for Community Colleges to acquire property for a new campus.
Virginia SB773 authorizes the State Board for Community Colleges to acquire a 4.8-acre campus, including an existing facility and parking area, at a price below the property's appraised fair market value. The acquisition will be funded by auxiliary enterprise reserves and revenues from noncredit workforce programs in skilled trades. The acquired property will become state-owned and eligible for state maintenance reserve support.
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