SAM DEAN The Roanoke Times

James Smith stipulated in his will that his land be used for educational and recreational purposes, suggesting the property become a branch of Virginia Western Community College.

SAM DEAN The Roanoke Times

The 307-acre Smith Farm in Franklin County was willed to the Virginia Community College System, which has worked out a sales agreement with the county that will provide scholarships for students to attend Virginia Western Community College in Roanoke.

Thirty years after James Turner Smith willed his Smith Mountain Lake property to the Virginia Community College System, it still sits in limbo.

That could soon change through a deal between the community college system and Franklin County.

In exchange for the 307 acres known as Smith Farm, the county will pay $100,000 annually for the next 10 years. The million dollars will be used for scholarships for Franklin County residents attending Virginia Western Community College.

Details for the scholarship haven't been worked out yet, County Administrator Rick Huff said. The state board for community colleges approved the deal in November and county officials hope to close on the property by the end of the month, Huff said.

The Virginia Western Community College Educational Foundation, which will handle the scholarship, will work with the Franklin County school system to finalize criteria for the scholarship, said Mike Shelton, spokesman for the community college.

Students should be able to start applying for money in spring 2011 for use during the 2011-2012 school year, Shelton said.

The property fronting Smith Mountain Lake is worth $9 million, said Scott Martin, the former Franklin County director of commerce and leisure services. He was involved in the discussions about the deal and called it a "steal." The property begins at the intersection of Virginia 668 and Virginia 944 and includes 1,400 feet of shoreline.

In his will, Smith restricted the use of the land to educational and recreational purposes. He also requested that the land be preserved in its "farm-like and woodland condition."

Smith, who died in 1979 at age 84, was a longtime member of the Franklin County School Board and retired from the Virginia Department of Taxation.

At the time of Smith's death, James Kincanon -- friend and executor of Smith's estate -- said the property had been in the Smith family since the early 1700s. Smith often visited the farm where his brother Clyde and sister Gladys lived. Neither James Smith nor his siblings had children.

At the time of the donation upon James Smith's death, then-Virginia Western President Harold Hopper hoped the farm could be used for a retreat and conference center for the school. In his will, Smith mentioned he would like to see the farm used "as an adjunct or branch" of Virginia Western.

There was much debate in the nine months following Smith's death about how the land would actually benefit the school if it accepted it.

From 1980 to 1996, the college rented the farm out for agricultural use, Shelton said. In 1998, the school looked into the legality of selling the property and in 2004 requested proposals for uses of the land.

The community college system, the attorney general and Virginia Western officials "have researched the best uses of the property in keeping with the will restrictions," Shelton said, and the Franklin County deal satisfies the intent of the will.

"We have the opportunity to take a non-revenue-producing asset of the college and establish a program that produces scholarship opportunities that otherwise would not exist," Shelton said. "So we are very pleased that more people will have higher education opportunities made available. More students will benefit from the opportunities of higher education as a result, and for this we believe Mr. Smith would have been very pleased."

While use of the land is limited, the opportunities are endless.

Franklin County Supervisor Russ Johnson said he envisions a campus that connects students with learning requirements. He said he would like to see a school built on the property, maybe a veterinarian school for large animals.

The county will soon seek a group to help figure out what to do with the land.

Sustainable Communities Partnership, a regional nonprofit from Roanoke, approached the county in December with an interest in identifying uses for the land and groups willing to partner with the county to develop the land.

"Partnerships are the most effective way to make sure things get done without a duplication of efforts," said Rob Glenn, CEO of Sustainable Communities Partnership. "Options for the Smith Farm are limitless."

A neighboring 4-H center is looking to expand its equestrian programs, Glenn said. Groups from Ferrum College, Virginia Tech and Patrick Henry Community College are also possible partners.