MS SB2155

Mississippi State University is authorized to enter into a 55-year parking garage license agreement with Cooley Center Hotel, LLC for use of parking facilities on a 1.67-acre parcel in Starkville, with an option to renew for one additional 55-year term.

MSU is authorized to enter into a 55-year ground lease with Cooley Center, LLC to lease the property containing the Cooley Building at 600 Russell Street in Starkville for renovation purposes, with an option to renew for up to two 5-year terms.

MSU is authorized to sublease at least 36,000 rentable square feet of office space within the Cooley Building from Cooley Center, LLC for 15 years, with renewal options for up to four 5-year terms plus one 6-year term.

MSU is authorized to enter into a 10-year ground lease with the City of Starkville for the real property on which a parking garage will be constructed.

MSU is authorized to enter into a parking garage use and operation agreement with the City of Starkville for use of the constructed parking garage, with all agreements and amendments subject to Board of Trustees approval and protected from cancellation by successor boards.