10/22/2004

Chancellorsville deal analysis - a slow start

It has proven difficult, so far, for me to prove for myself the Free Lance-Star's repeated assertion that Civil War Preservation Trust will purchase 140 acres of battlefield land from developers Tricord Inc. At present, I am assuming that this belief in a sale comes from off-the-record conversations the Star's reporters have had. The weekend may bring some clarifying emails and phone calls.

In the meantime, I note this passage from an older Star article:

"The lawyers just need to work out a few minor details," said preservation trust spokesman Jim Campi. "All of the major hurdles have been dealt with. It's a complicated deal, and it takes time to dot all the I's and cross all the T's."

The article says that CWBT is borrowing $3 million to close the deal; Central Virginia Battlefield Trust, meanwhile, is raising part of the money under its own banner.

Is joint ownership envisioned? And ownership of what, an easement or land?

Land sales can be complicated - but the business of working toward a land sale can be declared without endangering negotiations. That is, unless one party wants to sell an easement and the other party wants to buy land...