Pittsylvania County Industrial Development Authority Agenda Packet 2026-05-20
IDA to Purchase 2,500 Acres from Hancock Timberland XII Inc.
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Description
The Pittsylvania County Industrial Development Authority is considering purchasing approximately 2,500 acres from Hancock Timberland XII, Inc. for $27,551,475. The agreement includes an earnest money deposit for site control until December 3, 2026, to facilitate due diligence.
Contract Details
Contract Amount
$27,551,475.00 (earnest money deposit $137,757.38)
Vendor
HANCOCK TIMBERLAND XII INC
Agency
Pittsylvania County, VA
Contract Type
OTHER
Document Date
May 20, 2026
Contract Term
Site control until December 3, 2026; due diligence and studies until then
Renewal Date
2026-12-03
Renewal Info
Site control through 12/3/2026; after this, further steps may extend or finalize the agreement.
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