HomeMy Public PortalAbout1998_06_09_R137The Town of
Leesburg,
rg ma
RESOLUTION NO.
A RESOLUTION:
PRESENTED June 9, 1998
98-137 ADOPTED June 9, 1998
AUTHORIZING THE TOWN OF LEESBURG'S PURCHASE OF
8.6289 ACRES OF LAND FROM THE WARD CORPORATION FOR
LEESBURG MUNICIPAL AIRPORT
WHEREAS, consistent with the adopted Airport Layout Plan for Leesburg Municipal
Airport, the Town of Leesburg applied for financial assistance from the Virginia Department of
Aviation for the purchase of 8.6289 acres of land (identified on Tax Map 60-6-F2) to allow for
the development of additional aircraft apron and automobile parking at the airport; and
WHEREAS, a formal appraisal and review appraisal was completed for this property; and
WHEREAS, the appraiser indicated that the fair market value of the property was
$940,000 or $2.50 per square foot; and
WHEREAS, the property owner desires $1,033,650.75 or $2.75 per square foot for the
property: and
WHEREAS, the difference in fair market value and desired price is within ten percent
(10%) and the Federal Aviation Administration (FAA) has approved an administrative
settlement; and
WHEREAS, this is an acceptable FAA (FAA) project and ninety percent (90%) of the
purchase price is reimbursable when funds become available and when the property is included in
a grant agreement and the FAA receives an acceptable Title Certificate and Sponsor Certification
for Real Property; and
WHEREAS, in February, of 1998 the Virginia Aviation Board approved the allocation of
$827,200 in Air Carder/Reliever Discretionary funds or eighty percent (80%) of the purchase
price for the land; and price for the land; and
2
WHEREAS, the Town's share of this project would be $206,730.15; and
WHEREAS, a temporary loan transfer of funds from the Utility Fund into the Airport
Fund is necessary to settle the property;
THEREFORE, RESOLVED, by the Council of the Town of Leesburg in Virginia as
follows:
The Deputy Town Attorney is hereby authorized to make an offer to the owner of
Loudoun County Tax Map 60-6, Parcel F2 for the fee simple purchase of said property consisting
of 8.6289 acres in the amount of $1,033,650.75. Settlement of the same is subject to the receipt
of 80% of the total project cost from the Virginia Department of Aviation and 20% from the
Town of Leesburg. The Town Manager is hereby authorized to execute an agreement for the
purchase of said property upon the acceptance of this offer. Settlement shall take place between
June 15, 1998 and August 15, 1998 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, in a form
approved by the Deputy Town Attorney.
PASSED this 9th day of June, 1998.
E. Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council
206/05/982