
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, May 19, 1990                   TAG: 9005190259
SECTION: VIRGINIA                    PAGE: A-5   EDITION: STATE 
SOURCE: 
DATELINE: HILLSVILLE                                LENGTH: Short

CARROLL, HALIFAX GIVEN BUILDING-LOAN APPROVAL

Loan agreements between Carroll and Halifax counties and the state Department of Economic Development have been signed to fund industrial shell buildings.

A $551,365 loan to Carroll will pay for construction of a 51,200-square-foot shell building on a 12.76-acre tract in the county's industrial park. It is scheduled for completion by October.

A Sara Lee Knit Products plant and the Mount Rogers Industrial Development Center already are located in the park.

Halifax will get a $1.25 million loan for an 86,400-square-foot building in the Halifax County/South Boston Industrial Park. It also is to be complete by October.

The economic development department will make interest payments for up to five years. No repayments of principal or interest will be required from the counties until the buildings are sold or until five years after the loan closing.

The loans are being financed through the Virginia Supplemental Retirement System. The shell-building initiative was authorized by the 1989 legislature and is administered by the department.

- Southwest bureau

by CNB