HomeMy Public PortalAbout1992_07_14_R128The Town of
Leesburg,
rg ma
RESOLUTION NO.
A RESOLUTION:
PRESENTED July 14, 1992
92-128 ADOPTED July 14, 1992
AUTHORIZING THE TOWN OF LEESBURG'S PURCHASE OF 15.1 ACRES
OF LAND FROM REYNOLDS METALS DEVELOPMENT COMPANY FOR
LEESBURG MUNICIP~ AIRPORT
WHEREAS, on February 12, 1991, Town Council authorized the town manager to seek state and
federal funding for the acquisition of property from Reynolds Metals Development Company; and
WHEREAS, 15.1 acres of property, the msjority of which is located in the Runway Protection
Zone, must be purchased from Reynolds Metals Development Company for the implementation of the
planned Instrument Landing System in accordance with the adopted airport master plan; and
WHEREAS, the Town of Leesburg, having finally completed the removal of airport obstructions
in early 1992, received state and federal funding allocations for the purchase of this property; and
WHEREAS, town staff has negotiated the purchase of this property with representatives of
Reynolds Metals Development Company and the Federal Aviation Administration; and
WHEREAS, the Federal Aviation Administration requires that the purchase of this property
conclude prior to the end of September, 1992, with a commitment from the Town of Leesburg to provide
its five percent (5%) funding share no later than July 15, 1992; and
WHEREAS, Reynolds Metals Development Company desires to purchase upon sale of this
property easements for stormwater management and utilities from the town:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The town manager is hereby authorized to execute an agreement for the purchase
of 15.1 acres of land from Reynolds Metals Development Company for Leesburg Municipal Airport for
a purchase price of $2,800,000. Settlement of the same is subject to the receipt of 90% of the
-2-
RESOLUTION AUTHORIZING THE TOWN OF LEESBURG'S PURCHASE OF 15.1 ACRES OF LAND
FROM REYNOLDS METALS DEVELOPMENT COMPANY FOR LEESBURG
MUNICIPAL AIRPORT
purchase price from the Federal Aviation Administration, 5% from the Virginia Department of Aviation,
and 5% from the Town of Leesburg. Settlement shall take place by August 31, 1992 by General
Warranty Deed, granting fee simple title, free and clear of any and all liens, insurable by a title insurance
company of the town's choice. Such agreement for purchase shall be in a form approved by the Town
Attorney.
SECTION II. Such settlement is contigent upon simultaneous settlement with Reynolds Metals
Development Company for the purchase from the town of an easement on such 15.1 acre parcel for a
storm water management pond, all storm water easements deemed necessary for the development of the
remaining Reynolds land at Airport Commerce Park and utility easements for development of the
property as set forth in Resolution Number 92-129.
PASSED this 14th day of July, 1992.
ATTEST:
James E. Clem, Mayor
Town of Leesburg