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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />Action Agenda` � <br />Item No <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 21, 1991 <br />SUBJECT: PROPERTY ACQUISITION; SOUTHERN HUMAN SERVICES BUILDING <br />DEPARTMENT: PURCHASING & CENTRAL SRVS. PUBLIC HEARING YES: XX NO: <br />- '�- ^�____ -__.. <br />ATTACHMENT(S); INFORMATION CONTACT: PAM JONES <br />EXT 2650 <br />Map showing site location Telephone Number - <br />Resolution Hillsborough -732 -8181 <br />Offer to Purchase and Contract Chapel Hill - 967 -8251 <br />Mebane - 227 -2031 Durham -688- <br />7331 <br />PURPOSE: To hold a public hearing and thereafter to consider the <br />purchase of the property for the Southern Human Services Building, <br />Chapel Hill. <br />BACKGROUND: Following extensive investigation of various <br />suitable locations for the Southern Human Services Building, the <br />Commissioners' endorsed a site which is located off of Airport Road <br />on Homestead Road in Chapel Hill. The owner, Mr. Vinton Hoyle, <br />Jr., will sell the 34.10 acres for $852,500, a price negotiated <br />based on $25,000 per acre. This per acre cost is less than the <br />comparable properties appraisal range of $26,500 - $37,500 per acre. <br />The County will pay $550,000 at the time of closing and will <br />finance the remaining balance through Mr. Hoyle for 59 months at <br />a 7% interest rate. This will yield a total cost of the property, <br />including interest, of $908,189. <br />Following authorization by the Board to purchase this property, the <br />Southern Human Services Planning Committee will be formally <br />convened and the planning process begun for the new facility. <br />RECOMMENDATION (S): Approve the Resolution attached and an offer <br />to purchase and contract for the purchase by Orange County of 34.10 <br />acres owned by Mr. Vinton Hoyle, Jr., for a sum of $852,500 to be <br />financed in the manner heretofore described. Authorize the County <br />Attorney to handle the appropriate paperwork on behalf of the Board <br />of Commissioners and authorize the Board Chairman and the Clerk to <br />the Board to execute all documents on behalf of the County <br />necessary to this transaction. <br />