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Radford authorizes attorney to draft release of restrictive covenant for TechLab property with performance protections
Radford City Council · September 9, 2024
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Summary
Council authorized the city attorney to prepare or review a deed releasing a restrictive covenant on Lots 11 and 12 at Radford Corporate Park so TechLab can pursue expansion; members sought employment/ performance triggers to allow reversion if operations shrink.
TechLab representative Steve Harvey told council the company seeks removal of a restrictive covenant on Lot 11 of the Radford Corporate Park (7.02 acres) to enable commercial development and expansion. Harvey said TechLab has grown substantially since initial purchase and currently employs roughly 90 people at the…
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