Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, November 2, 1993 TAG: 9311020111
SECTION: CURRENT PAGE: NRV-1 EDITION: NEW RIVER VALLEY
SOURCE: By MICHAEL STOWE staff writer
DATELINE: CHRISTIANSBURG LENGTH: Medium
Purchasing the park, located near the intersection of I-81 and U.S. 460, would provide much-needed publicly owned industrial property, said Don Moore, economic development director for Montgomery County.
There are currently no publicly-owned industrial sites ready for development and that has hindered the county is its efforts to attract industrial prospects. The county did purchase a 155-acre site near Falling Branch Elementary School last summer, which it plans to develop into an industrial park.
The Christiansburg Industrial Park - home to Ames Textile Corp., New Energy waterbed company and an Appalachian Power service center - is now jointly owned by Montgomery County Development Corp. and the Christiansburg Industrial Corp.
The park's current assessed value is $383,000.
The two groups - comprised of more than 100 stockholders - sent Ira Long, chairman of the county Board of Supervisors, a letter in September advising of their plans to sell the property. The Montgomery Regional Economic Development Commission passed a resolution last week recommending that Christiansburg or the county buy it.
The resolution said Christiansburg should have first chance to buy the property since it's primarily located in the town limits.
Christiansburg Town Manager John Lemley said Town Council had discussed buying the property in executive session, but he wouldn't release any details.
The park offers industrial sites from five to 50 acres.
by CNB