Agenda - 04-12-2005-8b - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: April 12, 2005 Action Age al Item No. D SUBJECT: Public Hearing and Approval of Amendment #3 to the Purchase Agreement for the Orange County Campus of Durham Technical Community College DEPARTMENT: Purchasing & Central Services/ PUBLIC HEARING: (Y/N) No County Attorney ATTACHMENT(S): Amendment #3 to Purchase Agreement Declaration of Covenants and Restrictions INFORMATION CONTACT: Pam .Jones, (919) 245-2652 Geoffrey Gledhill, 732-2196 TELEPHONE NUMBERS: Hillsborough Chapel Hill Durham Mebane 732-8181 968-4501 688-7331 336-227-2031 PURPOSE: To hold a public, hearing, noticed pursuant to G.S,153A-158,2(c), regarding acquisition of property in the Waterstone development, to be used as the Orange County campus of the Durham Technical Community College (DTCC); and to consider approving an amendment to the purchase contract with Norca Holdings for the property. BACKGROUND: G.S. 153A-158.2 specifies the conditions under which a County may acquire and improve property acquired for a community college. Specifically, G,S. 153A-158.2(c) authorizes a county to acquire the property upon request of the board of tnastees of the community college for which property is to be made available. Orange County Commissioners were requested by DTCC to conduct a site analysis of several available sites far the proposed satellite campus, All County Commissioners, along with the DTCC Board of Trustees that are residents of Orange County, participated in the selection process that yielded the Waterstone site, Per agreement between the DTCC Board of Trustees and the Orange County Commissioners, the property in the Waterstone development was selected and an agreement for its purchase was negotiated. G.S, 153A-158.2(c) requires that a public hearing be held prior to final action, Orange County offered the Waterstone site for public comment prior to entering into negotiations far purchase. However, this second public hearing, properly noticed, fulfills a formality in the law that allows the property to be acquired by Orange County, In addition to the public hearing, the Board is requested to approve Amendment #3 to the purchase agreement with Norca Holdings. Approval of this Amendment will be the final action by the Board prior to the closing on the purchase of the property, which is now scheduled to occur on either April 14, 2005 or April 15, 2005. Amendment #3 contains four substantive provisicns: 1. Kennedy Covington Lobdell & Hickman, L.L,P, has been named the Escrow Agent for Norca Holdings, replacing the law firm of Womble, Carlyle, Sandridge and Rice, PLLC.