Carilion determines whether conditions have been met. Status reports will be made to Carilion each February and August. Provided conditions are met, RU Foundation will receive a good and marketable fee simple title to the property, free and clear of all liens, charges, security interest, encumbrances, or other defects in title.
Property is represented as having no substantive hazardous waste liability risk.
RU can lease space beginning now to generate revenue for ongoing needs, or to put in reserves for future needs. Most of the acreage is undeveloped, providing room to expand if needed. The Dean for CIST will have an office on the property and on the main campus. The Business Technology Park, BAC, Technology Training Center, Southwest Virginia Economic Development Center, Virginia Procurement Pipeline, and CIST will be integral to RU's strategic objective of contributing to the economic development of Southwest Virginia. The process for distributing those funds is still being debated.