Agenda 01/11/2000 - Laserfiche WebLink

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located in Franklin County and the other being located in the City of Martinsville on the campus of Patrick Henry Community College; however,. no suitable locations with existing buildings were submitted for evaluation. Although this option is costly, the project team felt this recommendation. was sound, considering the study's guiding principles and the results of the previous portions of the study. As you know, on December 13thi 1999, yOU informed us of the availability of the former Tultex site located at 22 East Church Street in the City of Martinsville. On December 22na, 1999, Ryan Link and I toured this facility as well as the present location of the Martinsville City School Administrative Offices with Mr. Thomas Harned and David Reeves of Dewberry & Davis. Let me first address the present Martinsville City Schools Administrative Offices site. It is in our. opinion that this site would not suffice as a suitable location. Although the site possesses many of the necessary attributes, when considering the Tultex site's attributes, the project team felt it would not be conducive to a successful implementation. Furthermore, the ownership status and the estimated costs associated" with proper renovation are prohibitive. Regarding the Tultex site, the project team's preliminary findings concluded that this facility would be ideal for a successful implementation. This 'site possesses the vast majority of the attributes necessary for a successful implementation such as building configuration, parking, telecommunications, and transportation access. Furthermore, the ownership status and current renovations would expedite the recommended implementation strategy. The building acquisition costs of $700,000 would significantly decrease the region's implementation costs associated with the project team's initial facility recommendations. Additionally, this site's relative location to existing and proposed incubator sites across the Commonwealth is ideal. This site is superior to all other known available options and will be the project team's final recommendation for the City of Martinsville site. In closing, we feel the location of a business incubator in the region is one of the many economic development strategies that are necessary to revive the ailing economy: If you should have any questions or concerns, please feel flee to contact me directly at 540-231 - 3391 or via electronic mail at mccollum@vt.edu Best regards, William C. McCollum Special Projects