Settlement cuts debt for Berkeley roundhouse
MARTINSBURG, W.Va. -- The Berkeley County Roundhouse Authority is moving to settle old debts after securing a commercial lease agreement with the West Virginia National Guard.
Authority Board Chairman Clarence Martin III said a recent $150,000 settlement with BB&T Bank will effectively cut that debt in half.
Martin said the Authority will work on an agreement to repay about $100,000 owed to a contractor.
The National Guard is leasing a building at the former Baltimore & Ohio roundhouse complex for storage. The lease is expected to be worth more than $500,000 over five years.
The Authority is charged with restoring and redeveloping the historic property. The roundhouse and red brick shop buildings were the site of the nation's first railroad strike in 1877.