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owner financing of $520,000 at 4% amortized over twenty years with a ten year balloon payment, and interest rate incentives for the purchaser to make improvements to the property. The contract proposes that the property, currently zoned Industrial, be conveyed in two lots: one of 14.9 acres to be re-zoned Commercial General (with restriction of certain byright uses), and the other of 18.9 acres to be re-zoned Agricultural. If the Contract is ratified by the Board of Supervisors on 6 December 2004, the proposed re-zoning will be considered by the Board, after receiving the recommendation of the Planning Commission, and after a public hearing scheduled for 7 February 2005. The property will be conveyed subject to restrictions imposed by the Virginia Department of Environmental Quality.
This is the same property acquired by the County from Aileen, Inc., then in bankruptcy, by deed dated 17 August 2000 recorded as Instrument 00-1159 in the Clerk’s Office of the Circuit Court for Rappahannock County.
All interested persons are invited to attend and to make comment, or to review the proposed contract of sale at the County Administration Office, 290 Gay Street, Washington, Virginia, from 8:30-4:30 Monday through Friday.
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