To the extent funding is available and for the purpose of operating, managing, and providing services or facilities for the center, the commission shall contract with a private postsecondary educational institution that:
(1) is a member of the Association of American Universities;
(2) has an enrollment of at least 3,000 students; and
(3) is located in a municipality in the Gulf Coast Region with a population of 1.8 million or more.