Countryside Maintenance - Begging For Dollars

Monday evening the sale of the Countryside property (one acre) to Newbern, LLC, for the TRANE building expansion will be finalized. The Planning Commission was unanimous in their recommendation. It will come before Roanoke City Council at the 7:00 PM meeting. This acre will pinch the 2nd and 3rd fairway and at a minimum will make it very "unattractive". I will ask Council to "earmark" the $55,000 paid for the acre for maintenance of Countryside Golf Course. Maintenance or improvements that will not be covered by the expected new operating agreement being drafted. As some of you may remember - the most urgent need is the golf cart paths and irrigation system. Below are two conflicting architectural renderings. The first is what I received several months ago along with a "Request For Comment". The second is an attachment on Monday's agenda. Now maybe I was not updated on the change in building design and the parking reconfiguration that took place prior to the Planning Commission review. At this point I don't know what is actually going there or when. If you figure it out please let me know.

Rendering I Received with Request For Comment

Rendering attached to Monday's agenda.

Rezoning Request For Comment - Newbern, LLC

Caricature of Trane Building expansion (right) furnished by Newt!

I received a request for comment to be returned by May 16th for a scheduled June 19th Public Hearing before the Planning Commission. It contains a drawing of the building front and side. The removal of the current proffers is a concern. They are proffers 2 - 7. Please comment!

PROFFERS TO BE REMOVED ARE:

2) The building, as shown ... will be of the same design, height, color and materials ....

3) There will be no outside storage or display of materials or inventory on the site.

4) No signs other than directional signs will be used on the site.

5) A buffer of at least thirty (30) feet, incorporating as many of the existing trees as possible, will be established and maintained on the site along the southerly and westerly property lines will be supplemented where necessary with pines or other evergreen trees or shrubs in order to provide effective screening from the adjoining golf course as well as Route 581.

6) That if no building permit has been issued and no construction commenced within three (3) years from the date of final rezoning approval, the zoning shall revert to [Recreational Open Space] ROS....

7) That the building be constructed by Petitioner will be used for storage of heating and air conditioning parts and supplies.

Ingersoll Rand To Acquire Trane Inc.

INGERSOLL RAND TO ACQUIRE TRANE INC. FOR APPROXIMATELY $10.1 BILLION
Click for Press Release
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What does this mean for the Countryside property that Trane wants to buy at the 2nd and 3rd fairway?
Click for Map

• Transaction Creates a Global Diversified Industrial Company with expected Pro Forma 2008 Revenues of $17 Billion and $2 Billion of DEBIT • Transaction Immediately Accretive to Earnings with Estimated 2008 EPS of $4.00 • Cost and Revenue Synergies are Expected to Exceed $300 million by 2010 • Acquisition Price for Trane of $36.50 Per Share in Cash and 0.23 shares of Ingersoll Rand Common Stock per each Trane Share Equal to Approximately $48.00 in Total Value per Trane Share.

Hamilton, Bermuda and Piscataway, New Jersey, December 17, 2007 – Ingersoll-Rand Company Limited (NYSE:IR) announced today that it has executed a definitive agreement to acquire Trane Inc. (NYSE:TT), formerly American Standard Companies Inc., in a transaction valued at approximately $10.1 billion, including transaction fees and the assumption of approximately $150 million of Trane net debt. Trane is a global leader in indoor climate control systems, services and solutions with expected 2007 revenues of $7.4 billion.

Does Trane still want the Countryside Golf Course property for expansion? The "synergies" word should make the Trane employees quiver. The acquired company employees always get the boot! Is this a surprise to the Trane folks in Tuckawana Circle and Newbern Properties? Wouldn't it just be a hoot if they closed them down .. how sweet it would be!