Virginia Tech Resolution Sale of Saltville Property March 2026
Legislation Authorizes Saltville Lease and Purchase Option
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Description
The 1998 Virginia General Assembly authorized leasing approximately 64.08 acres of Virginia Tech property to the Town of Saltville for public and educational uses, including a 20-year option to purchase the land at its $64,500.00 appraised value. The authorization required gubernatorial and Attorney General approval of the lease form.
Contract Details
Contract Amount
$64,500.00 (appraised value)
Vendor
TOWN OF SALTVILLE
Agency
Virginia Polytechnic Institute And State University, VA
Contract Type
FACILITIES
Document Date
March 6, 2026
Contract Term
20-year purchase option period from enactment of 1998 legislation
Renewal Date
2018-04-15
Renewal Info
Statutory authorization provided a 20-year window from enactment for the Town to exercise the purchase option at $64,500.00; no further renewals specified.
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Related Contracts
Virginia Tech Finance and Resource Management Committee Minutes April 2026
AMENDEDVirginia Tech Finance and Resource Management Committee Minutes April 2026
COMPLETEDVirginia Tech Resolution Sale of Saltville Property March 2026
TERMINATEDsmyth-county-meeting-minutes-2024-09-26_7fd.pdf
approvedtown-of-saltville-meeting-minutes-2022-06-21_977.txt
approvedIssuing Agency
Virginia Polytechnic Institute And State University
Higher Ed
Blacksburg, VA
More from Virginia Polytechnic Institute And State University
Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech Finance and Resource Management Committee Minutes April 2026
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