Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech to Dispose of Olin-Donated Saltville Property
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Description
Virginia Tech continues to manage a 65-acre property in Saltville, Virginia originally donated by Olin Corporation in the 1970s. The university has declared the land surplus and is moving forward with plans to sell the property for educational benefit.
Contract Details
Vendor
OLIN CORPORATION
Agency
Virginia Polytechnic Institute And State University, VA
Contract Type
FACILITIES
Document Date
April 14, 2026
Contract Term
Gift of approximately 65 acres in the 1970s; subsequent 20-year lease from March 17, 1999 to June 30, 2019 with option to purchase during lease term
Renewal Info
Initial use by the Department of Geosciences until circa 1990; property declared surplus in 1996; subsequently leased to the Town of Saltville with purchase option; lease terminated June 30, 2025.
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APPROVEDIssuing Agency
Virginia Polytechnic Institute And State University
Higher Ed
Blacksburg, VA
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Virginia Tech Academic, Research, and Student Affairs Committee Minutes April 2026
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