The Community Foundation of the Rappahannock River Region is offering for sale the real estate at 530 Princess Anne St. in downtown Fredericksburg.
The sale will be made by sealed bid.
All written offers must be submitted by first class mail, overnight mail, or hand delivery on or before 2 p.m. Eastern Standard Time on Tuesday, Feb. 28, 2017. Offers delivered by facsimile or electronic mail (e-mail) will not be accepted.
A minimum purchase price of $590,000 is required.
Complete bid instructions are available online at Notice of Auction of Real Estate by Sealed Bid – 530 Princess Anne Street, Fredericksburg, VA.
The property was donated to The Community Foundation by Mary Jane O’Neill, a board member and long-time friend of the organization.
“We can accept gifts of all kinds,” said Lisa Biever, director of Donor Services. “Ms. O’Neill’s gift is a great fit; she is tremendously generous.”
Proceeds from the sale will go to two funds. One is the Community Enrichment Fund.
“The Community Enrichment Fund is one fund where our board gets a real say,” Biever said. “The board members listen and learn from area nonprofits and donors, and they have the power to use the funds where they believe they’re needed most in the community. We are excited for the opportunities the board has to be responsive.”
The second is the Organization Endowment Fund. “Over time, we hope to have more than $1 million in our Organization Endowment Fund,” Biever said. “It will help us make an even deeper impact.”
The Community Foundation of the Rappahannock River Region manages more than 125 funds and more than $16 million in assets, and distributes monies in grants to a variety of non-profit programs, organizations, and other community-oriented charitable efforts in the region.
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