Orange County NC Website
1 <br /> ORD-2013-03 8 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 15, 2013 <br /> Action Agenda <br /> Item No. 7-b <br /> SUBJECT: SportsPlex Property Purchase and Sale Agreements and Approval of Budget <br /> Amendment#2-C <br /> DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Site Locator Jeff Thompson, (919) 245-2658 <br /> PURPOSE: To: <br /> • authorize the Interim Manager and Chair to execute a Purchase and Sale Agreement <br /> between the County and the sellers of property adjacent to the Orange County <br /> SportsPlex; <br /> • execute the necessary paperwork to close the transaction no later than 30 days after the <br /> agreements are fully executed, subject to final County Attorney approval; and <br /> • approve Budget Amendment #2-C in the amount of $382,000 to fund the transaction <br /> from the General Fund Unassigned Fund Balance. <br /> BACKGROUND: In the spring of 2013, the Board authorized the County Manager to enter into <br /> discussions with two property owners regarding three properties adjacent to the SportsPlex that, <br /> if acquired by the County, could provide parking and future expansion area for the SportsPlex. <br /> The County is complete with its title, soils, environmental, cultural, and archaeological due <br /> diligence regarding the three parcels adjacent to the Orange County SportsPlex. All reports in <br /> these areas are satisfactory. The closing survey is forthcoming and will be complete prior to <br /> closing. <br /> Appraisals from a mutually agreed upon Appraiser, John McBrayer of Williams Appraisals, <br /> indicate the following fair market value: <br /> 1. $190,000 for the 1.5 acre Wesley and Alice Woods property, or$126,667 per acre. <br /> 2. $170,000 for the 1.36 acre McCauley property, or$125,000 per acre. <br /> Each owner has vertical house structures on the property that may be of some use to the <br /> SportsPlex during the development and construction phases of its expansion. The structures <br /> may also be candidates for relocation and adaptive re-use for affordable housing. <br /> The sellers of the properties have agreed to sell the County the properties for the following <br /> sales prices: <br /> 1. $200,000 for the 1.5 acre Wesley and Alice Woods property; <br /> 2. $182,000 for the 1.36 acre Gene McCauley property. <br />