University of Virginia Library

APPROVAL OF THE DISPOSITION OF THE NORTON PROPERTIES ACQUIRED FROM THE ESTATE OF MS. VIRGINIA IRENE MEADOR TO THE NORTON UNITED METHODIST CHURCH

WHEREAS, a 50 percent interest in certain property and improvements ("Norton Properties") containing approximately 7,500 square feet, located on Park Avenue in Norton, Virginia, and referred to as lots 21 and 22 in block 13 of Plat Four, Norton, Virginia, were designated for The University of Virginia's College at Wise in the will of Ms. Virginia Irene Meador; and

WHEREAS, Ms. Meador died on December 21, 1995; and

WHEREAS, the College has determined that because of their size and distance from the campus the lots are of nominal use; and

WHEREAS, the Norton United Methodist Church has offered to buy the lots for $10,000, which is $4,800 greater than their assessed value; and

WHEREAS, the College will receive $5,000 as its share of the sale proceeds; and

WHEREAS, the College would like to use the proceeds for student assistance needs either in the form of scholarships or loans;

RESOLVED that the disposition of the aforesaid property on Park Avenue in Norton, Virginia, consisting of approximately 7,500 square feet, is approved; and

RESOLVED FURTHER that the Executive Vice President and Chief Operating Officer for the University of Virginia is authorized to convey the property via quitclaim deed and to execute any and all contracts and other documents pertaining to the disposal of the aforesaid property as he may deem necessary or appropriate.