Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, September 14, 1993 TAG: 9309140222
SECTION: VIRGINIA PAGE: C4 EDITION: NEW RIVER VALLEY
SOURCE: GREG EDWARDS STAFF WRITER
DATELINE: CHRISTIANSBURG LENGTH: Medium
The supervisors gave their unanimous endorsement to an agreement with the Industrial Development Authority and the Montgomery Regional Economic Development Authority, setting out the role of each body in the industrial park's development.
The 142-acre park will be located just west of Falling Branch Elementary School south of Interstate 81 next to the Christiansburg town limits.
Cost of developing the park, including the $850,000 purchase price for the land, is estimated at $3.4 million. The county hopes to finance as much as $1 million of that with state and federal funds designated for offsetting the loss of defense industry jobs. Industrial Development Authority bonds would pay for the remainder.
The money the supervisors spend to develop the park would be paid back as the industrial sites are sold.
The agreement makes it clear that the supervisors will retain "ultimate control" over the project. The Economic Development Commission's role will be to develop plans for the park and its marketing to industry.
Various supervisors described the project as critical to the economic future of the county.
The supervisors' approval of the remaining bonds needed to pay for the new Blacksburg elementary school now under construction near Hethwood didn't go as smoothly.
The board tabled consideration of a resolution authorizing the bond sale until it can obtain more information from the school system about exactly how much money is needed to finish the school.
Original plans called for the sale of $3 million in bonds, which - along with $3 million sold in the spring - would complete the financing for the school. County Finance Director Jeff Lunsford suggested, however, that the county might need to sell only $2.8 million in bonds to complete the project.
The board wants answers from the school system on why the Blacksburg school will cost the county $953,000 more than a school built two years ago in Christiansburg using the same plans. The Blacksburg school includes some extra space and facilities requested by the town for recreational purposes, but the town is paying for those.
Much of the dollar difference appears to be in construction costs. Actual construction at the Christiansburg school cost $4 million, and at Blacksburg is estimated at $4.8 million.
Supervisor Henry Jablonski of Christiansburg said he didn't remember such a large difference in the cost of the two schools when the budget for the Blacksburg school was presented. He also questioned a landscaping cost at the Blacksburg school roughly 10 times larger than that for the Christiansburg school.
"We went to great pains to make them equal," Jablonski said of the two schools.
"We need to know what the real story is," agreed Supervisor Joe Gorman of Blacksburg.
by CNB