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University of Mary Washington foundation buys Pizza Hut, residences near Fredericksburg campus Date published: 12/16/2009
BY JEFF BRANSCOME
The University of Mary Washington's nonprofit foundation has purchased a Pizza Hut across from the Fredericksburg campus and two houses nearby. UMW doesn't plan to close the Pizza Hut at 1224 Powhatan St., said Executive Vice President Rick Hurley, who is the foundation's treasurer. The houses--at 1214 Powhatan St., which is next to Pizza Hut, and 1217 Thornton St.--will be used for faculty lodging. The Pizza Hut's assessed value is $1,081,400, according to Virginia Mass Appraisal Network. UMW's purchase includes The Beehive, which is connected to Pizza Hut and has a party room and offices. The home on Powhatan Street is worth $240,300 and the residence on Thornton Street was last appraised at $256,400. The executive committee of UMW's board of visitors approved the purchases after meeting in closed session yesterday. Hurley wouldn't say how much UMW's foundation paid for the property, but he said the amount was "slightly higher" than their assessed value. The foundation raises money for various purposes. It has acquired numerous properties and develops them for use by the university. Hurley said UMW hasn't yet established long-term plans for the latest properties. He noted that consultants are drafting proposals for UMW's master plan to include the locations of future facilities. The board of visitors is scheduled to approve the university's master plan in April. "We have to look way out into the future and think about the possibilities that owning this land can bring to us," Hurley said yesterday. UMW President Judy Hample said in a statement that "they are the only properties immediately adjacent to the university that we believe we can acquire without disrupting the residential neighborhood of College Heights." The house on Thornton Street was sold by the family of the late Anne Hamer, who taught music at Mary Washington for 40 years. Developer and former Spotsylvania County Supervisor Hugh Cosner sold the Pizza Hut and the home next to it. Cosner will continue to operate the restaurant through a lease with UMW's foundation.
It's nice to see the Democraps have trained supporters well. If someone does not have the same view as you, sterotype them and cut them down. Don't know where you spent your money for an education, but I would ask for my money back.
Jinn, you hit the nail on the head with your post: "If this was a Wal-mart going up, you grubnards would be applauding. Since it's a university full of fancy talking college folk, everyone is in hysterics." Perhaps the University should put up a Wal-Mart to get everyone off their backs :)
They are making the area look a lot better than it did.
It depends on what the property is used for. For example housing at the old park and shop will be exempt. The retail space is not. IIRC. I believe that if they run a commercial business on the property or lease the property they pay taxes.
When the University buys a piece of property it is removed from the tax rolls thereby creating a bigger tax burden on residents.
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