| | | | | | | | Spotsylvania County
Board of Supervisors Agenda
Executive Summary |
| | | | | | | | Meeting Date:
| September 12, 2017 |
|
| | | | | | | | Title:
| iDX Surplus Property- VOTE ONLY |
|
| | | | | | | | Agenda Title:
| iDX Surplus Property-VOTE ONLY |
|
| | | | | | | | Recommendation:
| Staff recommends no action by the Board, to result in the transfer of the excess property behind the idX Corporation facility on Tidewater Trail to the Economic Development Authority (EDA). |
|
| | | | | | | | Summary:
| Per the attached Purchase and Sale Agreement, 48.07469 acres of substantially unimproved property behind the idX Corporation plant on Tidewater Trail (referred to as the “Back Forty”) is to be transferred to the EDA to be marketed for industrial development. Paragraph 23 of the Agreement sets forth the covenant and agreement of the EDA that “it shall not develop the Back Forty property or otherwise transfer any interest in the Back Forty Property, including, but not limited to, any lease or license, without the express consent of the Board of Supervisors of Spotsylvania County.” The Agreement also contains an Option provision (Paragraph 13) whereby the Board of Supervisors may elect to take title to the Back Forty property directly. The public hearing required by statute for the Board’s consideration of its option to take title to the property was held at the Board’s meeting on August 8. The Board may now, by motion and vote, choose to exercise the option to take title to the Back Forty itself, or may, by taking no action, forego exercising its Option and allow the Back Forty property to pass to the EDA. In consideration of the flexibility afforded to them under state law in matters concerning business development, staff notes that marketing of the Back Forty may be undertaken most efficiently and effectively by the EDA. Paragraph 12 of the Agreement makes any disposition of the property subject to approval by the Board of Supervisors, so the Board will have the final word on the disposition and future use of the property. |
|
| | | | | | | | Staff Contacts:
| Mark B. Taylor, County Administrator |
|
| | | | | | | | Legal Counsel:
| Karl Holsten, County Attorney |
|
| | | | | | | | Additional Background/Other Considerations:
| n/a
|
|
| | | | | | | | Consequence of Denial/Inaction:
| If no action is taken on this item by the Board of Supervisors, then by effect of the Agreement of Purchase and Sale the Back 40 property will be transferred to the EDA.
|
|
|