Orange County NC Website
Browse       Search
RES - aanq - a~8 <br />3 <br />Resolution Authorizing Upset Bid Process <br />WHEREAS, Orange County owns the following property at the following locations: <br />• Homestead Community Center, 600 Homestead Road, Chapel Hill-PIN # 9779086412 <br />• Clerk of Court Annex, 112 N. Churton Street, Hillsborough-PIN # 9874066435 <br />• Graham Building, 118 N. Churton Street, Hillsborough-PIN # 874065497 and; <br />WHEREAS, North Carolina General Statute § 160A-269 permits the County to sell property by upset <br />bid, after receipt of an offer for the property; and <br />WHEREAS, the County has received an offer to purchase the referenced properties as described <br />below: <br />Group Submitting Highest Amount of <br />Building Name Bid Highest bid <br />Homestead Community Center, Chapel Chapel Hill Training Outreach <br />Hill Project $275,000.00 <br />Clerk of Court Annex,112 N. Churton <br />Street, Hillsborough Larkspur Group, LLC $465,500.00 <br />Graham Building, 118 N. Churton Street, <br />Hillsborough Curious Sense, Inc $159,500.00 <br />WHEREAS, the bidders have paid the required five percent (5%) deposit on their offers; <br />THEREFORE, THE ORANGE COUNTY BOARD OF COMMISSIONERS RESOLVES THAT: <br />1. The Board of County Commissioners authorizes sale of the properties described above through the <br />upset bid procedure of .North Carolina General Statute § 160A-269. <br />2. The Director of Asset Management and Purchasing Services shall cause a notice of the proposed <br />sales to be published. The notice shall describe the properties and the amount of the offers, and shall <br />state the terms under which the offer may be upset. <br />3. Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer <br />to the office of Asset Management and Purchasing Services within 10 days after the notice of sale is <br />published. At the conclusion of the 10-day period, the Director shall open the bids, if any, and the <br />highest such bids will become the new. offer. If there is more than one bid in the highest amount, the <br />first such bid received will become the new offer. <br />4. If a qualifying higher bid is received, the Director of Asset Management and Purchasing Services <br />shall cause a new notice of upset bid to be published, and shall continue to do so until a 10-day <br />period has passed without any qualifying upset bid having been received. At that time, the amount of <br />the final high bid shall be reported to the Board of County Commissioners. <br />5. A qualifying higher bid is one that raises the existing offer by not less than ,ten percent (1.0%) of the.... . <br />first $1,000.00 of that offer and five percent (5%) of the remainder of that offer. <br />6. A qualifying higher bid must also be accompanied by a deposit in the amount of five percent (5%) <br />of the bid; the deposit may be made in cash, cashier's check, or certified check. The County will <br />return the deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a <br />qualifying higher bid is received. The County will return the deposit of the final high bidder at closing. <br />7. The terms of the final sale are that <br />