Averett University is giving bondholders an extra two weeks to decide whether the financially strained Danville institution may sell its E. Stuart James North Campus to raise needed cash.

Originally, Averett requested that bondholders cast a ballot by Thursday. However, only 39% had responded, short of the one-half needed to move forward. Averett spokesperson Bill Dyer confirmed that 50% of bondholders need to weigh in.

The response has been overwhelmingly in favor, with 99.5% in favor of waivers, the technical mechanism needed to sell the property.

An agreement in the works would pump about $18.15 million in payments over three years to Averett.

The facility located off Mount Cross Road in the northern part of Danville contains football and other sporting fields, a training area and a

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