A RESOLUTION AUTHORIZING THE COUNTY ADMINISTRATOR AND THE COUNTY ATTORNEY TO EXECUTE ALL DOCUMENTS NECESSARY TO ACQUIRE A 9.61 ACRE PARCEL OF LAND OWNED BY GEORGE R. THOMPSON, JR. BY PURCHASE, OR BY CONDEMNATION, CONSENTED TO BY THE LANDOWNER, UPON THE TERMS AND CONDITIONS AS SET FORTH IN THIS RESOLUTION
WHEREAS, by previous resolution, the Board of Supervisors has authorized the purchase of real property in the northern portion of Fauquier County to provide for the swimming and recreation needs of its citizens; and
WHEREAS, the Board of Supervisors has requested that George R. Thompson, Jr. sell to the County a 9.61 acre parcel owned by him and more particularly identified as PIN 6060-70-2278-000; and
WHEREAS, George R. Thompson, Jr. has indicated a willingness to consider the sale of his property to the County; now, therefore, be it
RESOLVED by the Fauquier County Board of Supervisors this 21st day of June 2004, That the County Administrator and County Attorney be, and are hereby, authorized to execute all documents necessary to acquire that certain 9.61 acre tract of land owned by the George R. Thompson, Jr., and more particularly described as PIN 6060-70-2278-000 by purchase, or by condemnation, consented to by the landowner, for the sum not to exceed $28,108.80 per acre; and, be it
RESOLVED FURTHER, That the purchase or condemnation of the property shall be subject to the following terms and conditions which are hereby approved by the Board of Supervisors:
a. That upon the recordation of a General Warranty Deed, or the entry of a condemnation order, transferring fee simple ownership of the 9.61 acre parcel to the County, the County will pay to an escrow agent mutually agreeable to the County and Mr. Thompson, the agreed compensation to be disbursed by the escrow agent in accordance with these terms and conditions.
b. The Escrow Agent will hold funds in an interest bearing account and shall disburse the funds upon the occurrence of any of the following events:
i. If none of the following events occur then after three years from the date of this resolution the money and any accumulated interest shall be paid to Mr. Thompson.
ii. If the Board of Supervisors, at the request of Mr. Thompson, rezones a parcel of land to a density of at least 18 additional dwelling units over the parcelís then current by-right zoning density, then the escrow agent shall disburse the money and all accumulated interest to the County. If the Board denies the rezoning request the money and all accumulated interest shall be paid to Mr. Thompson. If the Board rezones the property to less than 18 additional dwelling units Mr. Thompsonís compensation will be calculated by the difference between the purchase price and the number of lots approved divided into the purchase price. A proportionate share of any accumulated interest shall also be paid to Mr. Thompson. The remainder of the funds and interest shall be disbursed to the County.
iii. Mr. Thompson may sell to any other developer any of the 18 dwelling unit rights which must be extinguished by the developer as an offset against additional zoning sought by the developer as part of a rezoning. Upon this occurrence Mr. Thompsonís compensation will be calculated by the difference between the purchase price of his property and the number of dwelling unit rights sold to other developers divided into the purchase price. A proportionate share of any accumulated interest shall also be paid to Mr. Thompson. The remainder of the funds and interest shall be disbursed to the County. Mr. Thompson shall have three years from the date of this resolution in which to sell said development rights.
iv. At any time during the three years from the date of this resolution, if Mr. Thompson informs the Board of Supervisors in writing that he wishes to have the agreed purchase price paid to him, the funds with any accumulated interest shall be paid to Mr. Thompson.
v. At any time during the three years from the date of this resolution the Board informs Mr. Thompson in writing that it wishes to pay the purchase price to Mr. Thompson, the funds with any accumulated interest shall be paid to Mr. Thompson.
c. Interest on account will be paid out to the parties in proportion to the principal payments.
; and, be it
RESOLVED FINALLY, That the County Administrator be, and is hereby, authorized to expend such funds from fund # _______________________________, as are necessary to acquire on the terms and conditions set forth above, the property for a sum not to exceed $28,108.80 per acre, plus any normal and proper land acquisition and settlement expenses.