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Pittsylvania County Industrial Development Authority Agenda 2026-05-20

IDA Considers $27.5M Land Purchase from Hancock Timberland XII Inc.

$27,551,475.00 (earnest money deposit $137,757.38)Pittsylvania CountyHANCOCK TIMBERLAND XII INCMay 20, 2026

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

The Pittsylvania County Industrial Development Authority is considering a purchase and sale agreement with Hancock Timberland XII, Inc. for approximately 2,500 acres, at a price of $27,551,475 and an earnest money deposit of $137,757.38, securing site control through December 3, 2026 for 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 period to December 3, 2026

Renewal Date

2026-12-03

Renewal Info

Due diligence and site control until December 3, 2026; earnest money deposit applicable to the purchase price.

More from HANCOCK TIMBERLAND XII INC

Related Contracts

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 Packet 2026-06-17

APPROVED
Pittsylvania County (Virginia)$27,551,475.00 (earnest money deposit of $137,757.38)June 17, 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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