Old Blacksburg High School purchase contract changes
BLACKSBURG, Va.- – The old Blacksburg High School is now eligible for purchase by the town of Blacksburg with more favorable financing. The town will be able to qualify for the same terms as HS Development LLC, which is also interested in buying the property.
The Montgomery County Board of Supervisors voted to change the current contract to be fair to both the town and hs development. The change will allow Blacksburg to receive a three year, interest-free loan.
The building burned in July of this year, and that has impacted plans for development.
"There were $70,000 plus or minus dollars from insurance proceeds due to the fire. So we had to amend the contract anyways to allow the insurance proceeds to become a part of the settlement," said April DeMotts, Montgomery County Board of Supervisors.
Many remain hopeful that the town of Blacksburg purchases the old site, with the idea of expanding their parks and recreation options.
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