Liberty University announced Tuesday it has finalized the purchase of the Center for Advanced Engineering and Research along U.S. 460 in Bedford County after months of negotiations.
Those negotiations appeared to have been slowed by concerns over how revenue for the sale would be split and how the tax base of Bedford County would be affected by selling the facility to a nonprofit, according to comments made by Evan Feinman, executive director of the Tobacco Region Revitalization Commission, at a May 3 Executive Committee meeting of the commission.
According to Feinman’s remarks, contained in minutes from the meeting, the tobacco commission will receive “essentially a $2 million payment,” and CAER will receive “a $2 million payment.”
