The Board of Supervisors has agreed on a two-step sales agreement with Fiddler’s Green Partners L.L.C. to purchase the former Blacksburg Middle School property for a total of $4.25 million.
Fiddler’s Green will initially purchase the rear 14 acres for $1.75 million, then have a 12 month option to purchase the front 5.9 acres for $2.5 million. This purchase agreement will supersede the contract signed by the County and Fiddlers Green in 2011.
“We are very pleased to be moving forward with the sale of this property,” said Board Chair Chris Tuck. “Fiddler’s Green offered the best and most expeditious purchase proposal that will neither require rezoning nor County involvement in the development process. It was very important to the Board to get this property back on the tax rolls and apply any proceeds from the sale toward future school capital expenditures. I especially want to thank my fellow Board members, past Board members and staff who have worked tirelessly to sell this property for the benefit of the schools.”
The Board of Supervisors expects to approve a resolution agreeing to the sale and option terms at its regular Monday night meeting. A public hearing to solicit citizen comments regarding the sale of the property will be held May 9 at 7:15 p.m.
In fall 2015, the County issued a request for proposals to start anew with sale of the property. The County stipulated that prospective buyers for the 20 acre property reach an agreement with Fiddler’s Green, which had the contract for the rear 14 acres. The proposals also could not be contingent upon rezoning or the Town of Blacksburg conveying its approximately 1.3 acres of adjoining property.
The County received three formal proposals before the Oct. 1 deadline, two from companies located in other states. After discussion with the various proposers, the County ultimately rejected all proposals submitted to purchase the property. During this time, the County and Fiddler’s Green continued discussions on how to best get development of the property moving forward. Those discussions led to the agreement the Board will consider on Monday.