56.8161 Determination that agency is entitled to use built-to-suit to acquire space -- Definitions. - Kentucky Statutes

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56.8161 Determination that agency is entitled to use built-to-suit to acquire space -- Definitions. If the secretary of the Finance and Administration Cabinet determines that an agency is
entitled to additional space and that built-to-suit on private property or built-to-suit on
state-owned land is the most economically advantageous method for acquiring that space,
the secretary shall set forth his determination in a written finding which shall be approved
by the Governor. The following definitions shall apply to built-to-suit projects:
(1) "Design-build-finance" means a built-to-suit project delivery method in which the chief purchasing officer enters into a single procurement and contract award for
design, construction, and financing of a capital project over a contractually defined
period; and in which the ownership and title of the capital project shall be conveyed
at any time to the Commonwealth of Kentucky. (2) "Design-build-finance-operate" means a built-to-suit project delivery method in which the chief purchasing officer enters into a single procurement and contract
award for design, construction, financing, and operation of a capital project over a
contractually defined period; and in which the ownership and title of the capital
project shall be conveyed at any time to the Commonwealth of Kentucky. Effective: June 24, 2003
History: Amended 2003 Ky. Acts ch. 98, sec. 14, effective June 24, 2003. -- Created 1992 Ky. Acts ch. 54, sec. 1, effective July 14, 1992.