EDA Approves Resolutions Moving Toward Settlement of Old EDA Financial Liabilities, and Sale of 113 Acres at Avtex Site - Royal Examiner
Royal Examiner
The EDA moved into closed session to negotiate settlements for past financial liabilities and approved the sale of 113 acres at the Avtex site for $6.45 million.Summary
At its April 24 meeting, the newly formed Front Royal/Warren County Economic Development Authority (EDA) adjourned to closed session to consult with legal counsel regarding negotiations and potential litigation over debts from the 2014-2018 financial scandal era. The session also addressed the sale of 113 acres at the former Avtex Fibers Superfund site to PRA ACQUISITIONS I LLC for $6,451,500, subject to environmental and government approvals. Additionally, the EDA approved a contract for real estate brokerage services with SVN Commercial Specialists and a $50,000 loan to On Cue Sports and Billiards LLC from its USDA Intermediary Relending Program.
(Source：Royal Examiner)