Effective: May 1, 2020
Latest Legislation: Senate Bill 120 - 133rd General Assembly
(A) For purposes of this section, "university" includes a state institution of higher education as defined in section 3345.011 of the Revised Code and a university housing commission created under section 3347.01 of the Revised Code.
(B) Each university may enter into a lease agreement with a nonpublic vendor to provide housing services in campus housing facilities to students of the university. The lease agreement may require the vendor to construct new campus housing facilities, or improve existing campus housing facilities, to serve students. The vendor with whom the university enters into an agreement shall be responsible for the operation and maintenance of the housing facilities. The lease shall be for a term of at least twenty years but shall not exceed seventy-five years. The lease agreement shall specify that the vendor is required to lease housing units to students of the university. Any university housing policies shall extend to and be enforced by the vendors with whom the university contracts.
(C) If the vendors with whom the university has entered into a lease agreement violate the terms of the lease, the university may revoke the lease and regain operational control over the dormitory.
(D) Any campus housing facilities included in a lease agreement entered into under this section, including campus housing facilities constructed by a nonpublic vendor under a lease agreement, shall retain an exemption from property taxes and assessments in accordance with division (M) of section 3345.12 of the Revised Code.