 | Board of Visitors minutes June 10, 1955 |  |
SALE OF PRINCESS ANNE PROPERTY PROPOSED
Mr. Gray reported for the special Committee on Outlying Real Estate that offers had been
received for two tracts owned by the University. He recommended that the 8-acre tract in Falls
Church, now occupied by life tenants, appraised at $56,000, and increasing in value, be held by
the University. For the other property, a 10-acre tract in Princess Anne County, an offer of
$5,000 had been received, and Mr. Gray's Committee believed that a favorable sale might be
negotiated at a somewhat higher figure. Upon motion of Dr. Emmett, the Board resolved that
Mr. Gray be authorized to make a counter offer to sell this tract for $7,500, and that he be
further authorized to commit the Board to a sale for a price between this figure and $5,500.
| Board of Visitors minutes June 10, 1955 | |