(A) The Area Commission of Florence-Darlington Technical College with the approval of the Department of Administration or State Fiscal Accountability Authority, as appropriate, may enter into one or more ground lease agreements with a private entity whereby the private entity will provide all services necessary for the creation and operation of an on-campus facility, the purpose of which shall be determined by the commission including, but not limited to, financing, designing, constructing, managing, operating, maintaining, and related services. Upon expiration of the ground lease agreement term, the private entity shall surrender unto the college, such premises with the existing buildings, other structures, and improvements constructed and located thereon and therein, in the same condition as when the construction of the buildings, other structures, and improvements were completed, only natural and normal wear and tear excepted. The Department of Administration or State Fiscal Accountability Authority, as appropriate, must first approve all ground lease agreement terms and conditions including the consideration involved. The full faith and credit of the State toward the lease obligations must not be pledged, and any statement to the contrary is deemed null and void as a matter of public policy. The approval required herein shall be in lieu of or a substitute for any other approval required by any other provision of law or regulation in connection with the undertaking of the private entity and the college; however, the private entity and the college shall adhere to fire, life, and safety codes as required by the Office of the State Engineer.
(B) The Area Commission of Florence-Darlington Technical College, upon the approval of the Department of Administration or State Fiscal Accountability Authority, as appropriate, may enter into a lease or lease purchase agreement with a private entity for the entity to occupy a college facility or a facility to be built by the college on college property for the purpose of conducting an entrepreneurial or commercial activity.
(C) The Area Commission of Florence-Darlington Technical College, upon approval of the Department of Administration or State Fiscal Accountability Authority, as appropriate, may enter into a ground lease with a private entity for the private entity to build a facility on property of the college in which the private entity will conduct an entrepreneurial or commercial activity consistent with the scope and mission of the college.
(D) In implementing the provisions of subsections (B) and (C) of this section, full compliance with the provisions of Article X, Section 11 of the Constitution of this State is required.
(E) Neither this section, nor the approval required by this section, exempts any transaction or entity from complying with Chapter 35 of Title 11.
HISTORY: 2004 Act No. 201, Section 1, eff April 26, 2004; 2008 Act No. 275, Section 2, eff June 5, 2008.
Effect of Amendment
The 2008 amendment added subsection (E) relating to compliance with the Procurement Code.