Pittsylvania County Industrial Development Authority Agenda Packet 2026-06-17
$27.5M Land Acquisition Approved from Hancock Timberland
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Description
The Authority approved the acquisition of over 2,500 acres from Hancock Timberland XII, Inc. for $27.55 million, securing site control with a $137,757 earnest deposit and allowing due diligence until December 3, 2026.
Contract Details
Contract Amount
$27,551,475.00 (purchase price); $137,757.38 (earnest deposit)
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)
Renewal Date
2026-12-03
Renewal Info
Site control (earnest) valid until 2026-12-03; acquisition final closing subject to completion of due diligence.
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