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MI SCR0046
Concurrent Resolution
AI Summary
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Total Facility Cost for the West Shore Community College Arts and Sciences Center/Remodeling and Additions shall not exceed $6,900,000, with the State Building Authority financing $3,449,800, the State General Fund contributing $200, and West Shore Community College contributing $3,450,000.
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Approves conveyance of property owned by West Shore Community College to the State Building Authority as described in the lease and attachments.
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Authorizes the State Building Authority to acquire the Facility and lease it to the State and West Shore Community College, determining this lease constitutes a public purpose under Michigan law.
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Annual "True Rental" payments for the Facility shall range between $237,000 and $309,000, to be certified by an appraiser and approved by the State Administrative Board and Authority.
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Legislature agrees to appropriate sufficient annual amounts to pay rent obligations under the lease, and authorizes the Governor and Secretary of State to execute 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 West Shore Community College relative to the West Shore Community College Arts and Sciences Center/Remodeling and Additions.
Lease
Last Action
Referred To Secretary For Record
9/28/2010