The Front Royal-Warren County Economic Development Authority found a buyer to take its 148-acre property for $6.2 million.

The EDA board of directors voted at its meeting on Friday to approve a motion to enter into a contract with Plein Smith for three, undeveloped plots totaling 148 acres on Progress Drive in the Happy Creek Technology Park. Plein Smith has agreed to buy the plots for $6,260,000 per the contract.

EDA Chairman Jd Walter and directors Hayden Ashworth, Jorie Martin, Robert MacDougall, Bruce Townshend and Jim Wolfe voted to approve the motion. Members took the action after meeting in closed session on the matter.

The sale of the property helps the EDA pay down its multi-million-dollar debt incurred under a previous executive director, Jennifer McDonald, who recently was convicted of federal charges related to her unauthorized use of EDA funds to buy properties. The EDA has taken ownership of some of those properties, which the authority has then sold.

“So we’ve done a good job over the last year of, you know, moving several of the assets that the EDA’s had or gotten through collections,” Walter said. “We’re very pleased that we’ve been able to clear off several of these assets.”

The Progress Drive land is the last of the EDA’s larger properties aside from the former Avtex Fibers site. The EDA still owns several smaller parcels. Walter said he hopes that, with the sale of the Progress Drive property, the EDA can focus on what to do with the Avtex site.

Plein Smith has a 120-day due-diligence period prior to closing on the property, Walter said by phone Monday. Walter said the property may be used for light-industrial purposes but the board has not discussed the company’s plans for the site or potential occupants.

The EDA also closed on the sale of property on Baugh Drive in the Stephens Industrial Park to Plein Smith for almost $1.8 million.

Board members also voted at the meeting in favor of a motion to approve a fourth amendment to a contract with Executive Land Holdings IV LLC by extending the due-diligence period on the sale of property in the Stephens Industrial Park. Members also voted in favor of a motion to accept a gas-line easement with Columbia related to the property pending written acceptance by Executive Land Holdings IV LLC.