Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the University Real Estate Pilot topic
No spam. Unsubscribe anytime.
Committee advances bill letting LSU pilot local property acquisition and sales
Summary
SB518 would let LSU acquire or sell property within one mile of campus without going through Division of Administration or the legislature in every case, as a two‑year pilot. Sponsor said the authority aims to speed redevelopment of deteriorating properties; LSU real‑estate official said the change would simplify transfers like fraternity/sorority building purchases.
Senator Foyle presented SB518 to give LSU the flexibility to buy and sell property within one mile of campus as a two‑year pilot, saying some properties directly adjacent to campus are deteriorating and current processes (Division of Administration approval and sometimes legislative action) slow transactions.
"We have to say, well, we want to do this, but you're going to have to wait for a year while we go through until the next legislative session," said Patrick Martin, who identified himself as Assistant Vice President for Real Estate for the LSU Foundation. Martin said the measure would allow the university to time transactions so that, for example, a sorority that occupies a university‑owned building could more easily buy it and improve the student experience.
Foyle said he added a pilot amendment limiting the program to two years so the legislature could evaluate whether to expand the authority to other institutions. Representative Landry and Representative Taylor expressed support and asked whether the program would affect residential properties; Martin said the bill is expected to focus on commercial parcels and not be used to buy blocks of residential houses.
The committee reported SB518 favorably. The sponsor said if the pilot succeeds he would work with other universities and legislators to consider expansion.
