Financing for the acquisition of the Lurham property (683 acres)…
Nelson CountyVirginia- Detected
- Jul 15, 2026
- 110 days ago
- Sector
- Capital Projects
- Est. value
- Free account
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THE 30-SECOND BRIEF
Financing for the acquisition of the Lurham property (683 acres) and potential refinancing of the 2022 property acquisition (312 acres).
Initial cash purchase of $8,925,000 (10% deposit paid). Two-pronged financing strategy: use fund balance for cash purchase, then replace with lease revenue bond financing. The 2022 acquisition was for 312 acres at $2.6 million. The financing strategy includes both interim and permanent financing options, and potentially combining the financing for both properties. The property's future use (economic development, recreation, infrastructure) is yet to be determined.
From the meeting
- Source
- July 14, 2026 Nelson County Board of Supervisors Meeting - Afternoon Session at 2PM Part 3
- Meeting date
- July 15, 2026
- Agency
- Nelson County
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