Chapter 13

13.48(14)(d) (d) Biennially, beginning on January 1, 2014, each agency other than the investment board shall submit to the department of administration an inventory of all real property under its jurisdiction. Except with respect to the Board of Regents of the University of Wisconsin System, the inventory shall include the estimated fair market value of each property. The agency shall specifically identify any underutilized assets in the inventory. No later than July 1 following receipt of the inventories, the department of administration shall obtain appraisals of all properties in the inventories that are identified by the department for potential sale and shall submit to the building commission an inventory containing the location, description and fair market value of each parcel of property identified for potential sale. This paragraph does not apply to the agricultural land acquired by the Board of Regents of the University of Wisconsin System under s. 36.33 (1).

13.48(14)(e) (e) If the state office building located at 3319 West Beltline Highway in Dane County is sold by the state, the building commission shall ensure that the transferee pays $476,228 from the proceeds of the sale to the Wisconsin Public Broadcasting Foundation, if the foundation exists at the time of the transfer.

13.48(15) (15) Acquisition of leasehold interests. Subject to the requirements of s. 20.924 (1) (i), the building commission shall have the authority to acquire leasehold interests in land and buildings where such authority is not otherwise provided to an agency by law.

13.48(16) (16) Madison downtown state office facilities. The eminent domain authority of the building commission under ch. 32 is limited to the acquisition of such parcels of land as it deems necessary for a site for Madison downtown state office facilities, whenever the building commission is unable to agree with the owner upon the compensation therefor, or whenever the absence or legal incapacity of such owner, or other cause prevents or unreasonably delays such agreement.

13.48(17) (17) Advanced land acquisition. In the interest of preventing land speculation the building commission may acquire property within the blocks bordered by East Washington Avenue, South Webster Street, East Wilson Street and South Hancock Street in the city of Madison for possible future construction.

13.48(18) (18) Acquisition of open spaces. The building commission may acquire property adjacent to or within 2 blocks of any state facility for the purpose of establishing and developing open green spaces or possible future construction. Any acquisition in the city of Madison within block number 72, 73, 74, 75, 76, 77, 83, 84, 89, 90, 99, 100, 101, 102, 103 or 104 of the original plat of the city is exempt from enumeration under s. 20.924 (1) if such acquisition is to be solely used to meet the space needs of the state law library, the legislative reference bureau library and legislative and judicial branch agencies and support staffs.

Effective date note NOTE: Sub. (18) is amended by 1997 Wis. Act 5, eff. 7-1-02 or upon completion of acquisition of property sufficient for the construction of a facility to meet the space needs of the state law library, the legislative reference bureau library and legislative and judicial branch agencies and support staffs, to read:

13.48 Note (18) Acquisition of open spaces. The building commission may acquire property adjacent to or within 2 blocks of any state facility for the purpose of establishing and developing open green spaces or possible future construction.

13.48(19) (19) Alternatives to state construction.

13.48(19)(a) (a) Whenever the building commission determines that the use of innovative types of design and construction processes will make better use of the resources and technology available in the building industry, the building commission may waive any or all of s. 16.855, except s. 16.855 (13) and (14m) (a) to (c), if the action is in the best interest of the state and is approved by the building commission.

13.48(19)(b) (b) Subject to the requirements of s. 20.924 (1) (i), the building commission may authorize the lease, lease purchase or acquisition of facilities in lieu of state construction of any project enumerated in the authorized state building program.

13.48(20) (20) Residence halls. Except as provided in sub. (14) (am), the building commission may approve the sale or lease of state-owned residence halls by the board of regents of the University of Wisconsin System to another state agency or a nonstate nonprofit agency for purposes provided in s. 36.11 (1) (e).

13.48(20m) (20m) Projects.

13.48(20m)(a) (a) The building commission shall under this subsection assist construction projects having a public purpose.

13.48(20m)(b) (b) The building commission may award a construction project that satisfies par. (a).

13.48(20m)(c) (c) The building commission may authorize up to $25,000,000 in general fund supported borrowing under par. (b), including up to $3,000,000 for the project described in par. (d).

13.48(20m)(d) (d)

13.48(20m)(d)1. 1. The legislature finds and determines that supporting entrepreneurs and innovators, providing facilities for job training, and promoting dynamic community revitalization and development are of vital importance in creating jobs and contributing to economic development and tourism in this state and are statewide responsibilities of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist the Incourage Community Foundation, Inc., in redeveloping the former Daily Tribune building in the city of Wisconsin Rapids into an economic and community hub.

13.48(20m)(d)2. 2. The building commission may under this subsection assist the Incourage Community Foundation, Inc., in redeveloping the former Daily Tribune building in the city of Wisconsin Rapids into an economic and community hub. The state funding commitment shall be in the form of a grant to the Incourage Community Foundation, Inc. Before approving any state funding commitment for redeveloping the former Daily Tribune building, the building commission shall determine that the Incourage Community Foundation, Inc., has secured additional funding for the project from nonstate revenue sources at least equal to the state’s grant.

13.48(20m)(d)3. 3. If the building commission authorizes a grant to the Incourage Community Foundation, Inc., under subd. 2., and if, for any reason, the facility that is redeveloped with funds from the grant is not used for an economic and community hub, the state shall retain an ownership interest in the facility equal to the amount of the state’s grant.

13.48(20s) (20s) Center.

13.48(20s)(a) (a) The building commission may award under this subsection for a center.

13.48(20s)(b) (b) The building commission may authorize up to $15,000,000 in general fund supported borrowing under par. (a).

13.48(20t) (20t) Psychiatric and behavioral health treatment beds.

13.48(20t)(a) (a) The legislature finds and determines that expanding psychiatric bed capacity as described in par. (b) would greatly benefit state residents by expanding access to timely inpatient mental health treatment and other behavioral health services and allowing public financial resources to be better distributed to more effectively improve delivery of mental health services and is a statewide responsibility of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to expand psychiatric bed capacity and behavioral health treatment capacity.

13.48(20t)(b) (b) The building commission may authorize up to $5,000,000 in general fund supported borrowing to make a grant for the purpose of renovating an existing mental health facility in Marathon County. The renovation shall provide 26 beds for expanded capacity for psychiatric and other behavioral health treatment to an organization that applies to the building commission and meets all of the following criteria:

13.48(20t)(b)1. 1. The organization provides mental and behavioral health services in the north central region of the state and has a campus in Marathon County.

13.48(20t)(b)2. 2. The organization agrees to renovate an existing mental health facility in Marathon County to provide 16 adult inpatient psychiatric beds, 5 beds for emergency stabilization, and 5 beds for detoxification and substance use treatment. The organization shall serve individuals, including individuals who meet the criteria for emergency detention under s. 51.15 or 51.45, who are from Forest, Langlade, Lincoln, Marathon, Oneida, and Vilas Counties.

13.48(20t)(b)3. 3. The organization identifies measures that it believes will serve the needs of area residents with behavioral health needs, especially, as a critical component of the measures, in reducing the burden on state-operated facilities.

13.48(20t)(b)4. 4. The organization agrees to annually report to the legislature, in the manner described under s. 13.172 (2), the services provided with the resources funded by the grant awarded under this subsection, including the number of individuals diverted from state-operated mental health institutes.

13.48(20t)(b)5. 5. The organization recognizes that it is liable to repay the grant funds to the state if the organization fails to continue to maintain the expanded services and number of beds described under subd. 2. for a minimum of 10 years.

13.48(20t)(c) (c) Notwithstanding s. 150.93, a hospital may increase its approved bed capacity for purposes of this subsection.

13.48(20t)(d) (d) If, for any reason, the space that is renovated with funds from the grant under par. (b) is not used for the purpose of providing the services described under par. (b) 2., the state shall retain an ownership interest in the renovated space equal to the amount of the state’s grant.

13.48(20v) (20v) Grants for local projects.

13.48(20v)(a) (a) The building commission shall establish and operate a grant program under this subsection to assist nonstate organizations to carry out construction projects having a statewide public purpose.

13.48(20v)(b) (b) From the appropriation under s. 20.867 (3) (x), the building commission may award a grant to any nonstate organization for a construction project that satisfies par. (a).

13.48(20v)(c) (c) Before approving each grant, the building commission shall determine that the nonstate organization carrying out the project has secured additional funding for the project from nonstate revenue sources in an amount that is equal to at least half of the total cost of the project.

13.48(20v)(d) (d) If the building commission awards a grant under par. (b), and if, for any reason, the space that is constructed with funds from the grant is not used for one or more public purposes determined by the building commission under par. (a), the state shall retain an ownership interest in the constructed space equal to the amount of the state’s grant.

13.48(20v)(e) (e) The building commission is prohibited from awarding a grant under par. (b) unless the department of administration has reviewed and approved plans for the construction project associated with the grant. Notwithstanding ss. 16.85 (1) and 16.855 (1m), the department of administration is prohibited from supervising any services or work or letting any contract for the project. Section 16.87 does not apply to the project.

13.48(21) (21) Debt increase for Medical College of Wisconsin.

13.48(21)(a) (a) The building commission may authorize up to $8,000,000 of general fund supported borrowing to aid in the construction of a basic science education facility at the Medical College of Wisconsin. Prior to the approval of any state funding commitment, the building commission must satisfy itself that the Medical College of Wisconsin has secured additional funding commitments of at least $34,000,000 from other nonstate revenue sources; that such revenue sources are reasonable and available; that the nonstate funding commitments will not exceed $10,000,000 in borrowed funds, the repayment of which shall be amortized over a period of years equal to at least three-fourths of the amortization period for retirement of the bond issue authorized under s. 20.866 (2) (zb), and that the nonstate funding commitment will not jeopardize the operating funds of the medical college; and that the total funding commitments will enable the signing of contracts for the construction of a complete basic sciences educational facility. If the building commission authorizes a construction grant to the Medical College of Wisconsin, the medical college, in return, shall provide the state with an option-to-purchase with the following provisions:

13.48(21)(a)1. 1. The option price shall be the appraised fair market value at the time the option is exercised, less a credit recognizing the amount of the state’s initial grant. The option shall be subject to any mortgage or other security interest of any private lenders and to the lease existing between the college and Milwaukee County.

13.48(21)(a)2. 2. The option could be exercised only upon the occurrence of any one of the 3 following events:

13.48(21)(a)2.a. a. Suspension of operation of a medical school by the Medical College of Wisconsin or any successor organization;

13.48(21)(a)2.b. b. Foreclosure of the mortgage by a private lender; or

13.48(21)(a)2.c. c. Termination of the lease by Milwaukee County.

13.48(21)(b) (b) If the state does not wish to exercise the option, and if the building is sold to any 3rd party, such agreement shall provide that the state has the right to receive an amount equal to construction grant from the net proceeds of any such sale after the mortgage has been satisfied and all other secured debts have been paid. This right shall be paramount to the right of the college to the proceeds upon such sale.

13.48(22) (22) Sale or lease of capitol area lands. The building commission may lease or resell lands acquired in the capitol planning area for public or private redevelopment and may set such conditions of sale or lease as it deems necessary to ensure development compatible with the needs of the community and the state. This subsection does not apply to lands that are authorized to be sold or leased under s. 16.848 while an offer of sale, sale, or lease agreement is pending or while the lands are leased.

13.48(23) (23) Lease of space for commercial use. Except as provided in sub. (14) (am), the building commission may lease space in state office buildings for commercial use, including without limitation because of enumeration, retail, service and office uses. In doing so the building commission shall consider the cost and fair market value of the space as well as the desirability of the proposed use. Such leases may be negotiated or awarded by competitive bid procedures. All such leases of space in state office buildings shall provide for payments in lieu of property taxes.

13.48(24) (24) Terms on debt for maintenance projects. The building commission shall limit the term of debt issued to finance maintenance projects.

13.48(25) (25) Wisconsin initiative for state technology and applied research. There is created a program, to be known as the Wisconsin initiative for state technology and applied research, for the purpose of providing financial support to maintain the ability of the University of Wisconsin System and other state agencies, as defined in s. 20.001 (1), to attract federal and private research funds which enable the state to engage in high-technology endeavors, which expand the state’s economy and which influence the ability of the state and nation to compete in an increasingly complex world. To carry out the program, the building commission may authorize new construction projects and projects to repair and renovate existing research facilities and supporting systems. Projects shall be financed from the appropriation under s. 20.866 (2) (z) or as otherwise provided in the authorized state building program.

13.48(25m) (25m) Healthstar program. There is created a program, to be known as the healthstar program, for the purpose of providing financial support to attract federal and private funds to construct health science facilities to spur interdisciplinary education and research activities at the University of Wisconsin-Madison. Projects financed under the program shall be designed to provide interdisciplinary health sciences education and research facilities, ancillary systems and supporting infrastructure. Projects shall be financed from the appropriation under s. 20.866 (2) (z) or as otherwise provided in the authorized state building program.

13.48(25p) (25p) Biostar initiative. There is created a program, to be known as the biostar initiative, for the purpose of providing financial support to attract federal and private funds to construct biological sciences facilities to spur biological sciences education and research activities at the University of Wisconsin-Madison. Projects financed under the program shall be designed to provide biological sciences education and research facilities, ancillary systems, and supporting infrastructure. Projects shall be financed from the appropriation under s. 20.866 (2) (z) or as otherwise provided in the authorized state building program.

13.48(25r) (25r) Wisconsin Institute for Discovery initiative. There is created a program, to be known as the Wisconsin Institute for Discovery initiative, for the purpose of providing financial support to attract federal and private funds to construct facilities for biotechnology, nanotechnology, and information technology education and research activities at the University of Wisconsin. Projects financed under the program shall be designed to provide computational and biological sciences education and research facilities, ancillary systems, and supporting infrastructure. Projects shall be financed from the appropriation under s. 20.866 (2) (z) or as otherwise provided in the authorized state building program.

13.48(25s) (25s) Milwaukee initiative. There is created a program, to be known as the Milwaukee initiative, for the purpose of providing financial support to attract federal and private funds to construct research and academic facilities to spur science education and research activities at the University of Wisconsin-Milwaukee. Projects financed under the program shall be designed to provide engineering, science, freshwater science and health education and research facilities, ancillary systems, and supporting infrastructure. Projects shall be financed from the appropriation account under s. 20.866 (2) (s) or as otherwise provided in the authorized state building program, except that total funding commitments shall not exceed $240,000,000, with up to $123,410,000 in general fund supported borrowing; $55,590,000 in program revenue supported borrowing; $60,000,000 in funding from gifts, grants, and receipts; and $1,000,000 in funding from moneys in the state building trust fund.

13.48(25t) (25t) Wisbuild initiative. There is created a program, to be known as the “Wisbuild initiative”, for the purpose of providing financial support for the maintenance, repair and renovation of state-owned buildings. Funding may be provided under the initiative for high priority, comprehensive building renovation projects, as well as for the maintenance and repair of the exterior components of buildings and, without limitation because of enumeration, systems such as mechanical, electrical, plumbing and other building systems. Funding may also be provided under the initiative for projects to remove barriers that reduce access to and use of state facilities by persons with disabilities. The building commission shall allocate available funding for the initiative. Projects funded as a part of the initiative shall be financed from the appropriation under s. 20.866 (2) (z) or as otherwise provided in the authorized state building program.

13.48(25x) (25x) History preservation partnership initiative. There is created a program, to be known as the “History Preservation Partnership Initiative,” for the purpose of providing financial support to attract private and federal funds to acquire, construct, develop, enlarge, and improve facilities for collections care, public programs, and visitor services at the historic sites owned by the historical society and at the headquarters of the historical society. Projects financed under the program shall be designed to provide facilities for collections care, public programs, and visitor services at those historic sites and at that headquarters, ancillary systems, and supporting infrastructure. Projects shall be financed from the appropriation under s. 20.866 (2) (zfm) or as otherwise provided in the authorized state building program.

13.48(26) (26) Environmental improvement annual finance plan approval. The building commission shall review the versions of the biennial finance plan and any amendments to the biennial finance plan submitted to it by the department of natural resources and the department of administration under s. 281.59 (3) (bm) and the recommendations of the joint committee on finance and the standing committees to which the versions of the biennial finance plan and any amendments were submitted under s. 281.59 (3) (bm). The building commission shall consider the extent to which that version of the biennial finance plan that is updated to reflect the adopted biennial budget act will maintain the funding for the clean water fund program and the safe drinking water loan program, in the environmental improvement fund, in perpetuity. The building commission shall consider the extent to which the implementation of the clean water fund program and the safe drinking water loan program, as set forth in the biennial finance plan updated to reflect the adopted biennial budget act, implements legislative intent on the clean water fund program and the safe drinking water loan program. The building commission shall, no later than 60 days after the date of enactment of the biennial budget act, either approve or disapprove the biennial finance plan that is updated to reflect the adopted biennial budget act. If the building commission disapproves the version of the biennial finance plan that is updated to reflect the adopted biennial budget act, it must notify the department of natural resources and the department of administration of its reasons for disapproving the plan, and those departments must revise that version of the biennial finance plan and submit the revision to the building commission.

13.48(27) (27) Lease of correctional facilities. Subject to the requirements of s. 20.924 (1) (i), the building commission may lease any facility for use of the department of corrections as a part of the authorized state building program, with an option to purchase the facility by the state. Any lease shall provide for the facility to be constructed in accordance with requirements and specifications approved by the department of administration and shall permit inspection of the site and facility by agents of the department.

13.48(27m) (27m) Secured residential care centers for children and youth.

13.48(27m)(a) (a) The legislature finds and determines that the legislative intent set forth under s. 938.01 (2) is served by the design and construction of secured residential care centers for children and youth and attached juvenile detention facilities and that the design and construction of such facilities is a statewide concern of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist counties in designing and constructing secured residential care centers for children and youth and attached juvenile detention facilities.

13.48(27m)(b) (b) The building commission may authorize up to a total of $40,000,000 in general fund supported borrowing to assist counties in establishing or constructing secured residential care centers for children and youth and attached juvenile detention facilities. The building commission may authorize up to a total of $40,000,000 in additional general fund supported borrowing for those purposes. Any such state funding commitment shall be in the form of a grant to a county issued under 2017 Wisconsin Act 185, section 110 (4).

13.48(27m)(c) (c) If for any reason, the facility that is constructed with funds from the grant is not used for the purposes identified in the grant under 2017 Wisconsin Act 185, section 110 (4), the state shall retain an ownership interest in the facility equal to the amount of the state’s grant.

13.48(28) (28) State property leased to the University of Wisconsin Hospitals and Clinics Authority. The building commission may not authorize public debt to construct or improve any on-campus facilities, as defined under s. 233.01 (7), if the building commission believes, at the time that the public debt is authorized, that the facilities are or will be leased to the University of Wisconsin Hospitals and Clinics Authority.

13.48(28m) (28m) Carroll University.

13.48(28m)(a) (a) The legislature finds and determines that there is a growing shortage of primary medical care workers in this state, particularly for medically underserved populations in rural and urban areas of the state, and that assisting institutions of higher education in training primary medical care workers is a statewide responsibility of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist Carroll University in the construction of a science laboratory facility.

13.48(28m)(b) (b) The building commission may authorize up to $3,000,000 in general fund supported borrowing to assist Carroll University in the construction of a science laboratory facility. The state funding commitment shall be in the form of a grant to Carroll University. Before approving any state funding commitment for construction of such a facility, the building commission shall determine that Carroll University has secured additional funding for the project of at least $23,500,000 from nonstate revenue sources.

13.48(28m)(c) (c) If the building commission authorizes a grant to Carroll University under par. (b), and if, for any reason, the facility that is constructed with funds from the grant is not used as a science laboratory facility, the state shall retain an ownership interest in the facility equal to the amount of the state’s grant.

13.48(28p) (28p) Eau Claire Confluence Arts, Inc.

13.48(28p)(a) (a) The legislature finds and determines that providing education, programming, and access to arts and culture vastly enriches the lives of the citizens of this state and is a statewide responsibility of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist Eau Claire Confluence Arts, Inc., in the construction of a regional arts center in Eau Claire County.

13.48(28p)(b) (b) The building commission may authorize up to $15,000,000 in general fund supported borrowing to assist Eau Claire Confluence Arts, Inc., in the construction of a regional arts center in Eau Claire County. The state funding commitment shall be in the form of a grant to Eau Claire Confluence Arts, Inc. Before approving any state funding commitment for construction of such a center, the building commission shall determine that Eau Claire Confluence Arts, Inc., has secured additional funding for the project from nonstate revenue sources at least equal to the state’s grant.

13.48(28p)(c) (c) If the building commission authorizes a grant to the Eau Claire Confluence Arts, Inc., under par. (b), and if, for any reason, the center that is constructed with funds from the grant is not used as a regional arts center, the state shall retain an ownership interest in the center equal to the amount of the state’s grant.

13.48(28r) (28r) Wisconsin Agriculture Education Center, Inc.

13.48(28r)(a) (a) The legislature finds and determines that educating the citizens of this state on where our food comes from and its impact on our lives, and that promoting the dairy and agriculture industries of this state is a statewide responsibility of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist the Wisconsin Agriculture Education Center, Inc., in the construction of an agriculture education center in Manitowoc County.

13.48(28r)(b) (b) The building commission may authorize up to $5,000,000 in general fund supported borrowing to assist the Wisconsin Agriculture Education Center, Inc., in the construction of an agriculture education center in Manitowoc County. The state funding commitment shall be in the form of a grant to the Wisconsin Agriculture Education Center, Inc. Before approving any state funding commitment for construction of such a center, the building commission shall determine that the Wisconsin Agriculture Education Center, Inc., has secured additional funding for the project of at least $6,626,800 from nonstate revenue sources.

13.48(28r)(c) (c) If the building commission authorizes a grant to the Wisconsin Agriculture Education Center, Inc., under par. (b), and if, for any reason, the center that is constructed with funds from the grant is not used as an agriculture education center, the state shall retain an ownership interest in the center equal to the amount of the state’s grant.

13.48(29) (29) Simplified policies and procedures for construction projects. Except as otherwise required under s. 16.855 (10m), the building commission may prescribe simplified policies and procedures to be used in lieu of the procedures provided in s. 16.855 for any construction project involving a cost of not more than $300,000, except projects specified in sub. (10) (c). Beginning in fiscal year 2023-24, this amount is $600,000.

13.48(30) (30) Broadband expansion grants.

13.48(30)(a) (a) In this section, “unserved area” has the meaning given in s. 196.504 (1) (c).

13.48(30)(b) (b) The legislature finds and determines that the provision of broadband Internet access is essential to the welfare of the citizens of this state and to economic development in this state, and therefore the provision of broadband Internet access is a government function and a statewide responsibility of statewide dimension. The legislature further determines that sufficient private capital has been and continues to be unavailable to fulfill the need for the development of broadband Internet access in unserved areas in this state. It is therefore in the public interest, and it is the public policy of this state, to assist the public service commission in making broadband expansion grants under s. 196.504 (2) (a) for the purpose of constructing broadband infrastructure in unserved areas of this state.

13.48(30)(c) (c) The building commission may authorize up to $125,000,000 in general fund supported borrowing. The amount is for use under s. 196.504 (2) (a).

13.48(30)(d) (d) If the building commission authorizes borrowing under par. (c), and if, for any reason, a grant funded from the proceeds of such borrowing is not used for the construction of broadband infrastructure, as specified in par. (b), the state shall retain an ownership interest in the project funded from the grant equal to the amount of those proceeds.

13.48(31) (31) Debt increase for construction of a biomedical research and technology incubator and for a cancer research facility at the Medical College of Wisconsin, Inc.

13.48(31)(a) (a) The legislature finds and determines that it is in the public interest to promote the public health and welfare and to provide for economic development in this state by ensuring a fundamental and expanding capacity to conduct biomedical research and to create new technologies; by training students in the substance and methodology of biomedical research; and by providing scientific support to individuals and organizations in this state who are engaged in biomedical research and technological innovation. It is therefore the public policy of this state to assist the Medical College of Wisconsin, Inc., in the construction of and installation of equipment at facilities that will be used for biomedical research and the creation of new technologies.

13.48(31)(b) (b) On or after July 1, 2003, the building commission may authorize up to $35,000,000 of general fund supported borrowing to aid in the construction of and installation of equipment at a biomedical research and technology incubator at the Medical College of Wisconsin, Inc. The state funding commitment for the construction of and installation of equipment at the incubator shall be in the form of a grant to the Medical College of Wisconsin, Inc. Before the building commission may award the grant under this paragraph, the Medical College of Wisconsin, Inc., must certify to the building commission that the total funding commitments of the state and nonstate sources will pay for the construction cost of and the cost of installation of equipment at the incubator.

13.48(31)(c) (c) If the building commission awards a grant to the Medical College of Wisconsin, Inc., under this subsection, the Medical College of Wisconsin, Inc., shall provide the state with an option to purchase the biomedical research and technology incubator under the following conditions:

13.48(31)(c)1. 1. The option price shall be the appraised fair market value at the time that the option is exercised, less a credit recognizing the amount of the state’s construction grant. The option shall be subject to any mortgage or other security interest of any private lenders.

13.48(31)(c)2. 2. The option may be exercised only upon the occurrence of any of the following:

13.48(31)(c)2.a. a. Suspension of operation of a program of biomedical research and technology at the Medical College of Wisconsin, Inc., or any successor organization.