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MOTION:BARG February 25,1997 <br />Regular Meeting <br />SECOND:MCQUIGG Res.No.97-151 <br />RE:APPROVE PURCHASE OF 529 ACRES IN WESTERN PRINCE <br />WILLIAM COUNTY FROM TMB SERVICE CORPORATION FOR <br />TUE COUNTY’S ECONOMIC DEVELOPMENT PROGRAM <br />ACTION:APPROVED <br />WHEREAS,Prince William County,George Mason University and the <br />Commonwealth of Virginia have,in partnership,invested over $152 million to develop the <br />Prince William campus ofGeorge Mason University and surrounding projects;and <br />WHEREAS,the study,conducted by the Urban Land Institute,reviewed the <br />past efforts of each partner in creating Innovation@Prince William and provided <br />recommendations for future actions;and <br />WHEREAS,one of these recommendations included the County taking an <br />appropriate ownership role in this property and working toward a sensible development plan <br />designed to meet the County’s economic and financial goals;and <br />WHEREAS,the purchase of the TMB Service Corp.land,which is part ofthe <br />property known as the Broadview Center,is an appropriate way to enhance the County’s <br />economic development programs near the George Mason University-Prince William Campus, <br />and the cost ofpurchase is $8,150,000;and <br />WHEREAS,the Board of County Supervisors has determined that it is in the <br />public interest and is consistent with the public health,safety and welfare for the County to <br />purchase some of the TMB Service Corp.property in order to permit the County to gain control <br />of and title to the land surrounding the George Mason University-Prince William Campus in <br />furtherance ofits economic development goals under the Strategic Plan; <br />NOW,THEREFORE,BE IT RESOLVED that the Prince William Board of <br />County Supervisors does hereby approve purchase of 529 acres from TMB Service Corp.of <br />Mission,Kansas,for the purchase price of $8,150,000,and authorizes the County Attorney to <br />take the appropriate steps to complete those activities necessary to acquire all rights to this <br />property.