The story so far:
* The Spotsylvania County planning commission chief, Bob Hagan, told this blogger that part of the 140 acres will be bought by CWPT.
* A Tricord spokesman told this blogger that Tricord will sell all of the 140 acres.
* Final approvals for rezoning have not been given but are expected this week or next. If rezoning happens, the ruling is subject to 30 days of appeals and comments. If 30 days pass without complications, the land sale between Mullins and Tricord has to happen in December; Tricrod's purchase option expires in December and will not be renewed.
Remember that Mullins will not sell directly to the preservationists for reasons explored here in earlier posts on the topic. Tricord, the developer will buy battlefield land from Mullins, use part of it for nursing homes, then deal away the rest to CWPT.
The last open question concerning this deal is why Central Virginia Battlefield Trust was raising money for a transaction in which it had no part. Or does it have a part? I asked the question and received this answer yesterday from board member Erik Nelson:
As you apparently already know, the CVBT has worked with several property owners as well as the Civil War Preservation Trust (CWPT) to acquire 140 acres along State Route 3 of the Chancellorsville battlefield. The cost is $3 million, which is actually a good price. The CWPT will actually hold title to this property and will provide the bulk of the purchase price. The CVBT will not be a co-owner, but will certainly be a major fundraiser.
Interesting. I had also asked what happens to our donations if the deal between Mullins, Tricord, and CWPT falls through:
Any donation made to the CVBT or to the CWPT will be directed to the acquisition of this property. Donations will not be lost because a contract is already in place. If you prefer, you could wait until the CWPT closes on the property before making a donation.
I believe he is saying that the contribution is protected on the Tricord/CWPT end. I don't believe it can be protected on the Mullins/Tricord side, especially if the option expires.
CWPT recently said it is borrowing the $3 million it needs to pay Tricord. Borrowing the full amount, or the amount less one $250,000 CVBT pledge?
This is another loose end in the deal, and one very hard to track because CWPT has made no official mention of the CVBT effort. None that I can find. If CVBT is going to make this effort, CWPT needs to acknowledge it publicly. It can reduce confusion without endangering a deal.
