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TUESDAY, JANUARY 10, 1995 <br /> <br />Technical Advisory Committee. <br /> <br />Regarding the second item discussed in Executive Session, upon motion, <br />duly seconded and by unanimous vote, Council authorized the City <br />Manager to execute an Option-Agreement between the City, Patrick Henry <br />DeVelopment Council, and Promote Martinsville-Henry County, Inc. The <br />Option Agreement allows Promote Martinsville-Henry County to purchase, <br />from the Patrick Henry Development Council, 9.2112 acres adjacent to <br />the Owens-Corning facility in the Martinsville Industrial Park for the <br />price of $5,000 per acre. The initial option period extends until May <br />2, 1995 and is automatically renewed for one year periods after that <br />date unless either party provides written notice of cancellation 60 <br />days prior to the annual renewal date. The City is a party to the <br />agreement only for purposes of granting consent to'it. <br /> <br />Council took no action on the other matters discussed in Executive <br />Session. <br /> <br />There being no other business to discuss, <br /> <br />Mayor Adams declared the <br /> <br />meeting ad3ourned, <br /> <br />G.. Heater, <br /> <br />Clerk of Council <br /> <br /> <br />