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_ 656 Item Details($) Appropriations($) First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 11. The following individuals, and members of their immediate family, may not engage in an alternative financing arrangement with any agency or institution of the Commonwealth, where the potential for financial gain, or other factors may cause a conflict of interest: a. A member of the agency or institution's governing body; b. Any elected or appointed official of the Commonwealth or its agencies and institutions who has, or reasonably can be assumed to have, a direct influence on the approval of the alternative financing arrangement; or c. Any elected or appointed official of a participating political subdivision, or authority who has, or reasonably can be assumed to have, a direct influence on the approval of the alternative financing arrangement. J. 1. Appropriations contained in this act for capital project planning shall be used as specified for each capital project and construction funding for the project shall be considered by the General Assembly after determining that (1) project cost is reasonable; (2) the project remains a highly-ranked capital priority for the Commonwealth; and (3) the project is fully justified from a space and programmatic perspective. 2. Appropriations reappropriated for institutions of higher education, in accordance with § 23.1-1002, Code of Virginia, may be used to fund the detailed planning authorized for projects in this act and shall be reimbursed when the project is funded to move into the construction phase. K. Any capital project that has received a supplemental appropriation due to cost overruns is expected to be completed within the revised budget provided. If a project requires an additional supplement, the Governor should also consider reduction in project scope or cancelling the project before requesting additional appropriations. Agencies and institutions with nongeneral funds may bear the costs of additional overruns from nongeneral funds. L. The Governor shall consider the project life cycle cost that provides the best long-term benefit to the Commonwealth when conducting capital project reviews, design and construction decisions, and project scope changes. M. No structure, improvement or renovation shall occur on the state property located at the Carillon in Byrd Park in the City of Richmond without the approval of the General Assembly. N. All agencies of the Commonwealth and institutions of higher education shall provide information and/or use systems and processes in the method and format as directed by the Director, Department of General Services, on behalf of the Six-Year Capital Outlay Plan Advisory Committee, to provide necessary information for state-wide reporting. This requirement shall apply to all projects, including those funded from general and nongeneral fund sources. O. The Director, Department of Planning and Budget, in consultation with the Six-Year Capital Outlay Plan Advisory Committee, is authorized to transfer unutilized bond authorizations and appropriations between and among the capital pool projects listed in the table below, in order to address any shortfall in authorization or appropriation in one or more of such projects. This transfer includes authorizing the financing in whole or in part through bonds of the Virginia College Building Authority pursuant to § 23.1-1200 et seq., Code of Virginia, or the Virginia Public Building Authority pursuant to § 2.2-2263 et seq., Code of Virginia. Bonds of the Virginia College Building Authority issued to finance these projects may be sold and issued under the 21st Century College Program at the same time with other obligations of the Authority as separate issues, or as a combined issue. The aggregate principal amounts authorized shall not exceed the aggregate remaining authorized but unissued amounts for the capital pool projects listed in the table below plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, in accordance with § 23.1-1200 and § 2.2-2263, Code of Virginia, as applicable. The Director, Department of Planning and Budget, shall provide to the Chairmen of the Virginia College Building Authority and the Virginia Public Building Authority the specific projects, as well as the amounts for these projects, to be financed by each authority pursuant to this transfer of unutilized authorization and appropriation. Debt service on the projects contained in this Item shall be provided from appropriations to the Treasury Board. Pool Project No. Pool Project Title Authorization 17775 Public Education Institutions Capital Account Enactment Clause 2, § 4, Chapter 1, 2008 Acts of Assembly, Special Session I 17776 State Agency Capital Account Enactment Clause 2, § 2, Chapter 1, 2008 Acts of Assembly, Special Session I; amended by Item C-178.05, Chapter 781, 2009 Acts of Assembly. 17861 Supplements for Previously Authorized Higher Education Capital Projects Item C-85, Chapter 874, 2010 Acts of Assembly; amended by Item C-85, Chapter 890, 2011 Acts of Assembly 17862 Energy Conservation Item C-86, Chapter 890, 2011 Acts of Assembly