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

DATE: SATURDAY, July 10, 1993                   TAG: 9307100189
SECTION: CURRENT                    PAGE: NRV-1   EDITION: NEW RIVER VALLEY 
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: CHRISTIANSBURG                                LENGTH: Medium

MONTGOMERY TO VOTE ON BUYING BUILDING

Brad Denardo, former chairman of the IDA, said the group hopes to obtain a grant to fund a study that will determine the county's best use for the building.

"We want to try to make the building available for whatever use best fits it," he said.

In 1985, the supervisors loaned the IDA $362,000 to build two shell buildings. The first building in Christiansburg was bought by Ames Textile; the second in Blacksburg was bought by Tetra Sales.

The original shell building agreement called for the IDA to repay the entire $362,000 to the county, but this resolution would allow the IDA to keep the money needed to purchase the old Health-Tex building.

The 138,000-square-foot facility - vacated by Health-Tex in 1988 - was also the former location of Imperial Reading. The large brick factory building sits along Roanoke Street west of the Depot Street intersection.

"We're very excited about the possibilities for that building," said Sam Tollison, president of First National Bank of Christiansburg and a member of the IDA.

The resolution also encourages the IDA to develop a proposal to build more shell buildings - specifically on the 115-acre industrial site near Falling Branch school that the county recently bought.

It also encourages the IDA to work closely with the Montgomery Regional Economic Development Commission.