SB 872 Summary

• Authorizes acquisition and construction of capital improvement projects at University of North Carolina constituent institutions without appropriations from the state General Fund.

• Finances projects using gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements, hospital patient care receipts, or other available funds.

• Authorizes specific capital projects totaling $567,259,571, including: Appalachian State University Convocation Center Parking Deck ($11.25M), NC Central University New Student Center ($36.1M), NC State University Plant Sciences Building ($75.2M), UNC Asheville housing and renovation projects ($46.2M), UNC Charlotte facility projects ($88.5M), and UNC Hospitals Surgical Pavilion ($250M).

• Permits the Director of the Budget to approve increases or decreases in project costs or funding methods in consultation with the Joint Legislative Commission on Governmental Operations.

• Authorizes the Board of Governors to issue special obligation bonds up to the specified project costs plus 5% for issuance expenses and related costs.