RES-2009-078 Proposed to Accept Offers to Purchase for Four County Properties

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