UNION FRO REFORM JUDAISM - MID-ATLANTIC COUNCIL PROPOSAL TO PURCHASE POTENTIAL PROPERTIES FOR A CAMP NEAR MOUNT JACKSON, VIRGINIA
The Board previously authorized the Mid-Atlantic Region to enter into a contract to purchase a camp site near Roanoke, Virginia.That contract was contingent on completion of a satisfactory diligence review and has been terminated because of environmental concerns over the site.The Union is in process of securing the return of our deposit.
The Region has identified another potential camp site which it proposes to purchase on terms and conditions similar to the prior site namely to enter into a contract or contracts to provide a period of time for the Union, without risk to the Union, to determine whether the site is appropriate for a camp.As with the prior site, the Union regional leadership will be responsible for raising the necessary funds to conduct any needed diligence reviews, to purchase the property, and to develop the property if it is purchased.
The primary site that has been identified is a 350 acre parcel in the vicinity of the Bryce Mountain Resort near Mount Jackson, Virginia.This site is approximately 30 miles north of Harrisonburg, Virginia.The proposed contract would provide the Union with a six-month period in which to explore whether the site would be appropriate for a camp.The Union would be required to post a $25,000 deposit, which would be fully refundable if the Union determined not to proceed with the purchase within the six-month diligence period.The negotiated purchase price is $975,000.In addition to the foregoing site, it may be advantageous to purchase other parcels or easements adjacent to the site for better access.It is anticipated that the estimated cost for such additional sites or easements would not exceed $250,000.Contracts for any such transactions would be on the same basis as the primary purchase, namely, without risk to the Union during a diligence period.
Accordingly, the following resolution is proposed:
An appropriate officer of the Union is authorized to sign on behalf of the Union for Reform Judaism the necessary contracts designed to implement the above transactions on the terms and conditions set forth in this resolution.