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IDA asks VCEDA to offer Bluestone Shell Building to Virginia Steel and Fabrication for $1 million
Summary
After executive session the board authorized Economic Development staff to request a Purchase & Sale Contract offer from the VCEDA Board to sell the Bluestone Shell Building and roughly 7.1 acres to Virginia Steel and Fabrication for $1,000,000, conditioned on a development agreement requiring at least 20 full-time jobs within 24 months.
The Industrial Development Authority voted June 10 to ask the Virginia Coalfield Economic Development Authority (VCEDA) to present a purchase-and-sale offer for the Bluestone Shell Building and adjacent land to Virginia Steel and Fabrication.
The motion, moved by Mr. Darell Cantrell and seconded by Mrs. Melanie Protti-Lawrence, passed 6–0. The minutes state the request is for a Purchase & Sale Contract offer in the amount of $1,000,000 for the Bluestone Shell Building and the approximately 7.1 acres where it sits (official address listed as 326 East Shannondale Drive, Bluefield, VA 24605). The board recorded that Project Ironchef would execute a development agreement committing to job creation and capital investment within 24 months, with a minimum of 20 full-time jobs.
The action does not itself transfer title; it directs Economic Development staff to seek a formal offer through the VCEDA process. The board also completed the required certification that the executive session complied with Virginia Code §2.2-3711 before voting on the request.
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