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Board Extends Maturity Date on Accomac Manor Deed of Trust Note to Sept. 30, 2026
Summary
Staff recommended and the board approved a short-term amendment extending the maturity date of the deed of trust note with Accomac Manor LLC from May 31 to Sept. 30, 2026, pending DHCD review of related documents.
Accomack County staff asked the Board of Supervisors on May 20 to approve a 0.333 amendment to the deed of trust note between the county and Accomac Manor LLC to push the note's maturity date from May 31, 2026, to Sept. 30, 2026. County Administrator Mike Mason said the short extension would give the Department of Housing and Community Development (DHCD) time to review and approve a draft participation agreement and deed amendments before the board considers final adoption of those documents.
Mason told the board that staff and Accomac Manor had reached agreement on proposed revisions earlier in the month but could not finalize them until DHCD's review. The board moved, seconded and approved the extension so staff can continue negotiation and secure DHCD acceptance; staff said it expects to return with final documents at the June meeting if DHCD completes review promptly.
