Joint Bond Review Committee reviews property acquisitions and lease amendments, approves several items

The Joint Bond Review Committee reviewed a series of property acquisitions, lease amendments and proposed leases for state agencies and institutions, approving several routine items while reserving further scrutiny for larger financing requests.

Staff summarized a request by the South Carolina Public Service Authority to acquire approximately 74.94 acres near Highway 321 in Richland County from Renwick Properties, LLC and Barbara F. Martin (trustee) for $2,490,000 to site a substation to support local load growth and reduce additional transmission right-of-way needs; the committee stood the item approved.

Staff also presented a proposal to add roughly 2 acres to an existing commercial lease at Taekaw Landing and Campground in Clarendon County, which would increase annual rent by $1,125 to a new total of $19,116 with scheduled rental adjustments; the committee approved the amended lease. The Department of Social Services’ proposed lease for 22,000 square feet at 714 North Pleasantburg Drive in Greenville (7-year term; total rent estimated at $3,352,861) was presented for committee review and recommendation. The Department of Public Safety proposed a 7-year lease for 18,302 square feet at 33 Villa Road in Greenville (total rent over term estimated at $2,384,052); committee members asked departmental staff to consider whether purchase rather than lease should be evaluated over the seven-year horizon.

The committee also dispensed with reading 30 block items submitted by the Capital Budget Office totaling $8.9 million in budget changes and moved forward full reviews of larger permanent improvement projects for colleges and universities as outlined by staff.

The committee received the items and acted on routine approvals; larger financing requests were put through the committee review process or held for further consideration where indicated.