Plain English Breakdown
The bill does not provide specific details about the renovations or changes planned for the existing facility.
Allowing Laurel Ridge Community College to Buy Nearby Property
This bill lets the State Board for Community Colleges buy property next to Laurel Ridge Community College, including a building and parking area.
What This Bill Does
- Allows the State Board for Community Colleges to purchase land near Laurel Ridge Community College.
- Specifies that the purchase price must be less than the appraised fair market value of the property.
- Requires that the money used for buying the property comes from sources other than general funds, such as auxiliary enterprise reserves and noncredit workforce program revenues.
- Makes the purchased property part of the Virginia Community College System after it's bought.
Who It Names or Affects
- The State Board for Community Colleges
- Laurel Ridge Community College Educational Foundation
Terms To Know
- nongeneral fund sources
- Money that comes from places other than the state's main budget, like special funds or revenue from programs.
- auxiliary enterprise reserves
- Extra money set aside by a college for specific uses.
Limits and Unknowns
- The bill does not specify how much the property will cost.
- It is unclear what renovations or changes will be made to the existing facility on the property.