Virginia Tech Finance and Resource Management Committee Minutes April 2026
Virginia Tech to Buy Kapuskasing Research Land from JHU
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Description
Virginia Tech is moving to acquire over 100 acres of land in Kapuskasing, Ontario from Johns Hopkins University to support the SuperDARN research project. The land will be purchased at fair market value, currently appraised at about $115,000 Canadian dollars, with costs covered by the College of Engineering.
Contract Details
Contract Amount
Estimated market value $115,000 Canadian dollars (approximately $84,000 U.S. dollars) as of December 11, 2024; acquisition cost not to exceed appraised value conversion at day of closing plus due diligence and closing costs
Vendor
JOHNS HOPKINS UNIVERSITY
Agency
Virginia Polytechnic Institute And State University, VA
Contract Type
FACILITIES
Document Date
April 14, 2026
Renewal Info
Transfer governed by an existing memorandum of understanding between Johns Hopkins University and Virginia Tech, which allows sale at fair market value. No renewals are contemplated as this is a fee-simple acquisition.
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