What: An Agricultural Land Preservation (ARP) easement purchase from Melvin H. Eaton, II, on 31.98 acres at Charity Neck Road.
Outcome: Public hearing September 1 with no speakers; adopted by consent September 15, 10-0.
Details
Contract obligations up to $473,304; interest at the greater of 4.927% or the STRIPS yield, capped at 6.927%, interest-only for 25 years; $473,304 is transferred to buy Treasury STRIPS.
A separate item the same evening accepted $348,403.57 from the Virginia Department of Forestry for the ARP fund, reimbursing the J. Louis Parsons, Jr. easement. See State Grant Acceptances.