The Urbanna Town Council has submitted a notarized purchase agreement along with $10,000 in earnest money to purchase the H&H Properties building at 300 Virginia St., said Urbanna Mayor Bill Goldsmith. The building is at the intersection of Virginia Street and Rappahannock Avenue.
Goldsmith announced at the Oct. 9 town council work session that the town will pay cash for the 3,000 square-foot building, which has two floors. Some of the office furniture will stay with the building.
The purchase price is $615,000 and the town will have no mortgage, said Goldsmith. The town received about $240,000 through the CARES Act (Coronavirus Aid, Relief, and Economic Security Act); and cleared $235,000 from the sale of the old town hall on Cross Street. This gives a balance of about $140,000 to be paid with town treasury reserves.
