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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 22, 2012 <br /> Action Agenda <br /> Item No. 7" G <br /> SUBJECT: Property Divestiture: 112 and 118 N. Churton Street, Hillsborough <br /> DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y/N) No <br /> and Financial Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 3/5/12 Letter from Hillsborough <br /> Mayor Tom Stevens Pam Jones, (919) 245-2652 <br /> David Cannell, (919) 245-2651 <br /> PURPOSE: To consider divestiture options regarding two surplus properties owned by Orange <br /> County at 112 N. Churton Street (Clerk of Court Annex— PIN # 9874065497-TMBL# 4.30.B.12) <br /> and 118 N. Churton Street (Graham Building — PIN # 9874066435-TMBL# 4.30.B.11), <br /> Hillsborough. <br /> BACKGROUND: Since April 2009 the County has actively marketed the properties at 112 and <br /> 118 N. Churton Street, Hillsborough for sale. Several rounds of bid/upset bid were conducted <br /> and on November 5, 2009, the Board was presented with winning bids of $465,500 and <br /> $159,500 respectively for the finro properties. These bids were rejected in order to initiate action <br /> that would effectively fill a gap in the existing Town regulations, by which a property owner could <br /> potentially remove the buildings. <br /> The Board authorized staff to negotiate an agreement with the NC Preservation Foundation to <br /> accept and administer a preservation agreement on the properties, effective upon sale. The <br /> Foundation agreed to a discounted fee of $7,000 and $3,000 respectively, which would be <br /> added to the final bid price for the properties and would be paid directly to NC Preservation <br /> Foundation by the new property owners at closing. <br /> Subsequent solicitations using this contract were unsuccessful for the property at 112 N. <br /> Churton, and the highest bid for 118 N. Churton was later withdrawn. Although the Foundation <br /> significantly reduced the preservation requirements, particularly for the interior of the buildings, <br /> no further interest in buying the properties has been forthcoming. <br /> In October 2011 the County requested the Town of Hillsborough accept a preservation <br /> easement for the properties, which would likely have been administered through its Historic <br />