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Rockbridge County is purchasing a 22.012-acre tract of land near Raphine for the purposes of economic development.
The land is on the east side of Steeles Fort Road (Va. 706), a short distance south of the intersection with Raphine Road (Va. 606). The purchase price is $1,250,000.
The Board of Supervisors on Monday adopted a resolution to exercise an option to purchase the land from BJB Properties LLC. The option was taken out this past February. An environmental assessment of the property was conducted that raised no issues.
The acquisition gives the county a prime piece of real estate with access to public water and sewer that is in close proximity to Interstate 81’s Exit 205 interchange. No public comments have been made regarding specific prospects who may be interested in locating on this property.
“This will give us an opportunity to compete for businesses in this area,” said Board of Supervisors Chairman David Mc-Daniel. He noted that the county had been looking in recent years to acquire land for this purpose.
The county is to put out a request for proposals for a bank loan to finance the land purchase.
Ashton Harrison, the county’s finance director, said the intent is to seek such financing for a 10-year loan. The hope, he said, is to close on the property by the end of the calendar year.
