On Tuesday, September 26, 2017, HS Development, L.L.C., advised Montgomery County that they intend to proceed to closing as outlined in the Sales Agreement with the County for the former Blacksburg High School site. As a result, HS Development, L.L.C., and Montgomery County are scheduled to close on the property no later than November 22, 2017.
"All along, our main goal has been and will always be to support our communities and our public schools. Since the money from the sale of the old Blacksburg High School is going directly to the school capital projects fund, we are able to help meet that goal and help our schools," said Christopher Tuck, Chair of the Montgomery County Board of Supervisors.
"We welcome collaboration moving forward between Montgomery County, the Blacksburg Town Council, and HS Development, LLC, as we continue to invest in our communities, and especially in our children," said Tuck.
"I remain disappointed that we were not able to reach an agreement with the Town of Blacksburg on the sale of the former Blacksburg High School so they could use the site for an expansion of their Parks and Recreation offerings for Town and County residents," said April DeMotts, Montgomery County Board of Supervisors, District G.
"My desire was for the Town of Blacksburg to purchase the old Blacksburg High School site. However, I do understand that we need to close on the property so we are able to dedicate the proceeds from the sale to important facility needs in our schools. I am looking forward to learning about the plans for the old Blacksburg High School property moving forward and am hopeful they will be beneficial to our community," said DeMotts.
Since Montgomery County began marketing the property for sale in late 2016, the following has transpired:
- On January 5, 2017, HS Development, L.L.C., submitted an offer to purchase the old Blacksburg High School site for $2.175 million;
- On March 3, 2017, the Board of Supervisors submitted a counter offer to HS Development, L.L.C., which included several stipulations and an as is sales price of $3,000,000;
- On March 7, 2017, HS Development, L.L.C., accepted the terms of the Board’s counter offer and provided a $25,000 non-refundable deposit to the County;
- On March 13, 2017, a public hearing was held;
- On April 24, 2017, an amended sales agreement was signed by HS Development, L.L.C., and Montgomery County;
- On September 25, 2017, The Montgomery County Board of Supervisors approved an amendment to the Agreement to Purchase the old Blacksburg High School site and the Sale of Property between Montgomery County and HS Development, L.L.C.; and
- No later than November 22, 2017, HS Development, L.L.C., will officially purchase the property from Montgomery County. Due at closing is $1,000,000. In April 2019, an additional $1,000,000 is due. The final payment of $1,000,000 is due in April 2020.