MS HB823

University of Mississippi Medical Center authorized to lease a 4.5-acre parcel of property located in Jackson, Hinds County for a term not exceeding 40 years, subject to Board of Trustees approval.

Leased property must include mixed-use development with minimum requirements: approximately 10,000 square feet of street-level office space, 224 Class A apartment homes, structured and surface parking, and landscaping with green space buffers.

UMMC faculty, staff, and students have right of first offer to rent apartment homes developed on the leased property before being made available to the general public.

All lease proceeds must be deposited into a special fund designated for UMMC's use and benefit.

Lease agreement and any amendments require approval from the Board of Trustees of State Institutions of Higher Learning.