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MI SCR0045
Concurrent Resolution
AI Summary
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Approves conveyance of property owned by Ferris State University to the State Building Authority for the Center for Collaborative Health Education facility.
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Sets total facility cost not to exceed $26,900,000, with Authority financing up to $20,174,800 through bonds, State General Fund contributing $200, and Ferris State University contributing $6,725,000.
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Authorizes State Building Authority to acquire the facility and lease it to the State and Ferris State University, determining the lease serves a public purpose under 1964 PA 183.
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Sets annual "True Rental" payments between $1,383,000 and $1,809,000, to be certified by an appraiser and approved by the State Administrative Board and Authority.
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Directs Governor and Secretary of State to execute the lease and commits Legislature to appropriate sufficient annual funds to pay rent obligations under the lease.
Legislative Description
A concurrent resolution approving the conveyance of property to the State Building Authority and approving a lease among the State of Michigan, the State Building Authority, and Ferris State University relative to the Ferris State University Center for Collaborative Health Education.
Lease
Last Action
Referred To Secretary For Record
7/21/2010