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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: November 5, 2009 <br />Action Agenda <br />Item No. ~ ' O <br />SUBJECT• Propose to Accept Offers to Purchase for Four County Properties <br />DEPARTMENT: Asset Management & PUBLIC HEARING: (YIN) No <br />Purchasing Services <br />ATTACHMENT(S): <br />Resolution <br />INFORMATION CONTACT: <br />Pam Jones (919) 245-2652 <br />David Cannell (919) 245-2651 <br />PURPOSE: To consider offers to purchase four County properties offered for sale and approve <br />a resolution initiating an upset bid process. <br />BACKGROUND: On August 18, 2009 the Board authorized staff to begin the divestiture <br />process of the following properties: <br />• Clerk of Court Annex, 112 N. Churton Street, Hillsborough <br />• Graham Building, 118 N. Churton Street, Hillsborough <br />• Homestead Community Center, Chapel Hill <br />• Highway 49 old ABC store, Cedar Grove <br />Pursuant to Statute and Board direction, properties were advertised and bids accepted on <br />October 20, 2009. Bid results for each property are as follows: <br />Name of Property Minimum <br />Bid Highest Bid <br />Received <br />112 N. Churton Street, Hillsborough $450,000 $465,500 <br />118 N. Churton Street, Hillsborou h $130,000 $159,500 <br />Homestead Community Center, Chapel <br />Hill $275,000 $275,000 <br />Hi hwa 49 Old ABC Store, Cedar Grove $ 5,000 No Bids Received <br />Divestiture Procedures <br />As a reminder, disposal of public assets is prescribed specifically by law [G.S. 160A, Article 12]. <br />First, the property must be declared as surplus by the governing board (completed April 7, <br />2009). Real property must always be sold using a competitive procedure. Competitive <br />procedures include sealed bid, negotiated offer and upset bid and public auction. The Board <br />chose to pursue sealed bids (completed October 20, 2009) with an upset bid. <br />