 | Board of Visitors minutes April 12, 1958 |  |
BOWLES PROPERTY
President Darden laid before the Board a letter of 10 January 1958 from
William S. Hildreth proposing the purchase by the University of the Bowles tract on
the old Ivy Road (adjacent to the Hulvey and McGavock properties at a price of
$2,000 an acre. The President also presented a letter and enclosure from the
Comptroller as follows
Charlottesville
11 March 1958
I enclose copy of Mr. William Hanckel's letter concerning the
above property. Mr. O'Grince and I have examined the property and
recommend that the Board of Visitors be requested to authorize the
purchase of the property, under the terms set forth in Mr. Hanckel's
letter.
This property will be ideal for a faculty housing development. Mr.
Hanckel has informed me that Mrs. Bowles has turned down an offer
substantially higher than that at which she has offered the property to
the University, as she would much prefer its sale to the University.
Enclosure
President
Real Estate Broker
Keene P. O.
Albemarle County
Virginia
March 5, 1958
Charlottesville, Virginia
Confirming our conversation of today, Mrs. Bowles would like to
work out an arrangement whereby she would sell the University 39 acres
less 9.818 acres. This 9.818 acres she will agree to sell the
University when she desires to upon giving the University 90 day notice.
The University would pay Mrs. Bowles $58,364 for the 29.182 acres
now and $19,636 for the 9.818 acres with delivery of same.
This offer is made to the University of Virginia and to no one else.
After further discussion the Board resolved that the proposal to purchase the
Bowles property be referred to the Committee on Buildings and Grounds, and that
the Committee be authorized after examining the property, to commit the Board to
its purchase if that should seem desirable.
| Board of Visitors minutes April 12, 1958 | |