- Report Published -
|Report on the Replacement/Renovation of the 8th/9th Street Office Building Complex Virginia Acts of Assembly - Chapter 781 Item C-5.30|
|Department of General Services|
|Appropriation Act - Item C-5.30 (Regular Session, 2009)|
|Pursuant to the authorization in the Virginia Acts of Assembly - 2008 Special Session I, the Department of General Services (DGS) initiated a Public-Private Education Facilities and Infrastructure Act (2002) (PPEA) procurement process for the development of Commonwealth of Virginia property located between 8th and 9th Streets between Broad and Grace Streets in the City of Richmond. Four private sector Developers submitted conceptual PPEA proposals to develop the 8th and 9th Street property. The 2008 Special Session I authorization required that DGS prepare and submit a project progress report during the 2009 session of the General Assembly (GA). DGS complied with the General Assembly (GA) direction to compete this work under the PPEA and report its findings to the 2009 GA. DGS reported its findings to the 2009 GA and was then directed, in the 2009 Virginia Acts of Assembly - Chapter 781; Item 5.30, to continue to study the 8th and 9th Street development in consultation with the State Comptroller, the Auditor of Public Accounts and Department of Planning and Budget.|
Complying with the direction stated, the DGS Director, the State Comptroller, the Auditor of Public Accounts, and the Department of Planning and Budget Director met in May 2009, to discuss the requirements as set forth in Chapter 781, Item 5.30, and develop a plan of action to satisfy the report requirements of Chapter 781, Item 5.30; as they relate to the development of the 8th and 9th Street property; specifically:
• The potential for proceeding with any of the PPEA proposals under an operating lease concept or how the PPEA proposals could be modified in order to proceed under an operating lease concept; and,
• The cost of such PPEA proposals relative to the Commonwealth's standard capital program.