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Pittsylvania County Industrial Development Authority Agenda Packet 2026-06-17

IDA Approves $27.5M Land Acquisition from Hancock Timberland

$27,551,475.00 (earnest money deposit of $137,757.38)Pittsylvania CountyHANCOCK TIMBERLAND XII INCJune 17, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Pittsylvania County Industrial Development Authority unanimously approved a $27.55 million purchase agreement with Hancock Timberland XII, Inc. for approximately 2,500 acres, including an earnest money deposit. The contract secures site control for due diligence through December 3, 2026.

Contract Details

Contract Amount

$27,551,475.00 (earnest money deposit of $137,757.38)

Vendor

HANCOCK TIMBERLAND XII INC

Agency

Pittsylvania County, VA

Contract Type

OTHER

Document Date

June 17, 2026

Contract Term

Site control until December 3, 2026; due diligence period until this date

Renewal Date

2026-12-03

Renewal Info

Site control period runs until December 3, 2026; further actions after that date pending due diligence completion.

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Pittsylvania County Industrial Development Authority Agenda Packet 2026-06-17

AWARDED
Pittsylvania County (Virginia)$27,551,475.00 (purchase price); $137,757.38 (earnest deposit)June 17, 2026

Pittsylvania County Industrial Development Authority Agenda 2026-05-20

PENDING
Pittsylvania County (Virginia)$27,551,475.00 (earnest money deposit $137,757.38)May 20, 2026

Pittsylvania County Industrial Development Authority Agenda 2026-05-20

PENDING
Pittsylvania County (Virginia)$27,551,475.00May 20, 2026

Pittsylvania County Industrial Development Authority Agenda Packet 2026-05-20

PENDING
Pittsylvania County (Virginia)$27,551,475.00May 20, 2026

Pittsylvania County Industrial Development Authority Agenda Packet 2026-05-20

PENDING
Pittsylvania County (Virginia)$27,551,475.00 (earnest money deposit $137,757.38)May 20, 2026

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