MI SCR0057

Total Facility Cost for the Jackson Community College Whiting Hall Renovation shall not exceed $21,900,000, with the State Building Authority financing $10,949,800, the State General Fund providing $200, and Jackson Community College providing $10,950,000.

Legislature approves the conveyance of property to the State Building Authority as described in the lease agreement for acquisition and leasing of the facility to the State and Jackson Community College.

Annual "True Rental" payments for the facility shall range between $751,000 and $982,000, to be certified by an appraiser and approved by the State Administrative Board and Authority.

Governor and Secretary of State are authorized to execute the lease on behalf of the State, and the Legislature agrees to appropriate sufficient annual funds to pay rent obligations under the lease.

Determination made that leasing the facility from the State Building Authority serves a public purpose under Michigan Public Act 183 of 1964.