Agenda - 06-15-2010 - 4q - Laserfiche WebLink

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Highway 49 Old ABC Store, Cedar $ 5,000 No Bids Received Grove Divestiture Procedures For 118 N. Churton Street As a reminder, disposal of public assets is prescribed specifically by law [North Carolina General Statute 160A, Article 12]. First, the property must be declared as surplus by the governing board (completed April 7, 2009). Real property must always be sold using a competitive procedure. Competitive procedures include sealed bid, negotiated offer and upset bid and public auction. The Board chose to pursue sealed bids (completed October 20, 2009) with an upset bid. The process steps are as follows: • Advertise the properties for sale as required in a local newspaper. Circulate information via internet and post signs on the buildings for sale; (completed during May 2010); • Accept bids and open publicly (May 25, 2010); • Present results to the Board who would "propose to accept the offer ", thereby commencing the upset bid process (June 15, 2010); • Next steps, to commence June 16, 2010: • Advertise the highest responsible bid amount as the basis for upset bids and commence the upset bid process. • Accept upset bids for a 10 day period after advertisement after which time a bid opening would be held. Assuming a valid upset bid was received (must be a minimum of 10% of the first $1,000 and 5% of the balance in order to be considered) additional rounds of the upset process would be continued until no further upset bids were received. • Present results to the Board for consideration after the conclusion of the final upset bid process (August 17, 2010). Update on the Sale of the Other Four Properties No bids were received on the following properties; • Clerk of Court Annex, 112 N. Churton Street, Hillsborough • Old EMS, 1914 New Hope Church Road, Chapel Hill • Purchasing Building, 129 E King Street, Hillsborough • Highway 49 Old ABC Store, Cedar Grove Staff believes that the primary reason no bids were received on the four properties is the economic climate. In the case of the old ABC store, the remote location and difficulties in bringing the well and septic system to code are also reasons. Staff proposes to continue to market the four buildings to obtain offers that meet the minimum set by the Board. Further, staff will look for additional ways to advertise the properties in a cost effective way during the Board's summer break. If minimum bids are received during that time, the bids will be brought to the Board for acceptance, and subsequent upset process (detailed above). Each building will also be considered for alternate uses by County functions.