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

DATE: WEDNESDAY, February 6, 1991                   TAG: 9102060479
SECTION: VIRGINIA                    PAGE: B2   EDITION: NEW RIVER VALLEY 
SOURCE: STEVE KARK SPECIAL TO THE ROANOKE TIMES & WORLD-NEWS
DATELINE: PEARISBURG                                LENGTH: Medium

SCHOOL PURCHASE APPROVED

The deal, which headed the agenda for Tuesday night's Giles County supervisors' meeting, was approved unanimously by the board.

Rich Creek will continue to use the property as a recreation and community center, and the ball field on the property will stay open, Eaton said.

Plans for the school building include expanding the community facilities and moving town offices to the site.

Terms of the agreement, made public last month, obliged the town to pay $25,000 at the closing of the deal and the rest in annual payments of $5,000 plus 5 percent interest on the remaining balance.

In addition, Rich Creek agreed to sell 2.2 acres of the property to Dollinger Corp. at a fair market price if and when the company decides to expand.

Should Dollinger decide not to pursue the option and should Rich Creek decide to sell that portion of the property, the land first must be offered back to the county for $20,000.

Eaton said Tuesday night that he was happy with Dollinger's involvement in the agreement because the company said it would pay for moving the ball field if necessary.

If Dollinger decided against expanding and if the town sold the land back to the county, Rich Creek would have to cover the cost of relocating the ball field.

A handful of Rich Creek residents at the meeting said they were pleased with the board's decision and glad the fate of the property finally had been decided.

Members of the board said they were glad the issue had been resolved. They said the agreement demonstrated the ability of the community to work together for the benefit of all.