AN ACT AUTHORIZING HOLYOKE COMMUNITY COLLEGE TO BORROW FUNDS FOR THE ACQUISITION AND RENOVATION OF CERTAIN REAL PROPERTY IN THE CITY OF HOLYOKE.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to forthwith authorize Holyoke Community College to borrow funds for the acquisition and renovation of certain real property in the city of Holyoke, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
Notwithstanding any general or special law to the contrary, Holyoke Community College may borrow not more than $7,000,000 through the Massachusetts Development Finance Agency to: (1) acquire land and a building thereon located at 404 - 408 Jarvis avenue in the city of Holyoke as shown on the city assessor’s map 147, block 00, parcel 011; (2) design, renovate, furnish and equip that building for the establishment of a center for nursing, radiology technology and related health care education, in accordance with design and construction laws; and (3) design, renovate, furnish and equip classroom and related support space vacated by nursing, radiology and related health care education programs, in accordance with design and construction laws, on the Holyoke Community College campus at 303 Homestead avenue in said city of Holyoke.
Notwithstanding sections 40E to 40I, inclusive, of chapter 7 of the General Laws or any other general or special law to the contrary, the commissioner of capital asset management and maintenance, in consultation with Holyoke Community College, may acquire by purchase, lease or leaseback for a term, including any extensions, not to exceed 50 years, gift or other transfer, the land and building thereon located at 404 - 408 Jarvis avenue in the city of Holyoke, together with any easements or other interests in land and buildings considered necessary by the commissioner to carry out this act including, but not limited to, easements for drainage, access and utilities. The consideration for the purchase, lease or other acquisition of the land and building shall be determined by the commissioner of capital asset management and maintenance pursuant to an independent appraisal. The purchase shall be subject to a vote of the board of higher education. The proceeds from any future sale of the land and building thereon by Holyoke Community College shall revert to the College Trust Fund as reimbursement for the College Trust Fund’s investment in that property.