Virginia Tech Resolution Sale of Saltville Property March 2026

Contract Amount

Total rent of $1.00; option to purchase for $64,500.00

Vendor

TOWN OF SALTVILLE

Agency

Virginia Polytechnic Institute And State University, VA

Contract Type

FACILITIES

Document Date

March 6, 2026

Contract Term

20-year lease term beginning March 17, 1999, with renewal options; terminated June 30, 2025

Renewal Date

2019-03-17

Renewal Info

Original 20-year lease included renewal options and an option for the Town to purchase the property for $64,500.00 during the lease term; the lease was terminated by the Town on June 30, 2025.