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The Halifax County Industrial Development Authority on Friday morning
approved the sale of a two acre tract of land in the Sinai Industrial
Park to the Southern Virginia Higher Education Foundation. According to
IDA Executive Director Mike Eades, the Foundation will pay $10,000 per
acre for the land which he understands the Foundation expects to trade
to the Harris family in exchange for the old "bag factory" which
adjoins the Prizery.
In another real estate matter, the IDA approved the rental of the
former Medical Textiles building in the County Industrial Development
Park on Route 58 to Cherokee Tobacco Company for the next three years.
Cherokee will pay rent of $5,665.45 monthly during 2008 for the 31,918
square foot facility and the rent will increase by two percent over
each of the next two years.
In yet another real estate report, Eades said the donation of the real
estate in the Hinson property to Bryant Archeological Conservancy from
the Halifax County and the South Boston IDAís has been held up due to
wrangling over a reversion clause in the deed.
Most of Friday's meeting, however, focused on discussion with Dr.
Carole Inge of the proposed Modeling and Simulation Center of
Excellence at Riverstone Technology Park. Accompanying Dr. Inge were
Wayne Human, a vice president of Tetra Tech and Jackie Cassada of
Frontline Testing Services, who told IDA members of their plans for use
of the Center. Inge told members that she is "very optimistic" that the
Tobacco Commission will approve her request for the $1.2 million that
is needed to get the Center up and running. She expects that approval
to come on January 8 after the Commission holds its monthly session.
Inge said her request for the Center had been lowered from the $1.8
million amount she had quoted IDA members in their November meeting
since the original request had been for 18 months, but had been scaled
back to 12 months. Inge said she was disappointed to have to cut the
time frame because any startup operation needs a decent amount of
capital to make it happen, "but," she added, "I feel with our partners
we can overcome that." She noted that she is still asking for 18 months
free rent for her partners.
Human, who described Tetra Tech as a $1.4 billion company which employs
8,500 people, sees the Center as "a terrific opportunity.î His company
which deals primarily with clean water issues, already has a satellite
office in Blackstone. He stressed the need for "secure office space"
and noted that he would like to be located on the main floor of
Riverstone, across from the Virginia Tech offices which are currently
in use.
Cassada, who is the CEO of Frontline Testing Services of
Charlottesville, also called the Center "very promising." Her business,
she said provides quality assurances for software products. She also
explained that Frontline works with community colleges and universities
and this would be their second location. Her projections for employment
would be between three to five for the first year.
Both speakers stressed the need for ìsecure space,î pointing out that
their business and financial information could not be shared.
Inge said she believed her partners could work on the second floor
during the 18 month period they are seeking free rent, but after that
period they would want to move to the downstairs area. She noted that
her office will be seeking grants and incentives to help with the costs
of upfitting the area.
Questions arose about who the space would actually be leased to and who
would own the equipment necessary to upfit the space. ìWe are just 12
days away from getting this grant from the Tobacco Commission and it is
very important that we all work together,î Inge said, noting that she
does not yet know what the costs will be for the equipment and the
upfits.