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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: January 18, 2001 <br />Action Agenda <br />Item No. 7-L <br />SUBJECT: Public Hearing on Financing for Property Acquisition at 112 and 118 North <br />Churton Street in Hillsborough <br />DEPARTMENT: Finance PUBLIC HEARING: (Y/N) Yes <br />Purchasing <br />ATTACHMENT(S): <br />Financing Proposal <br />Resolution <br />INFORMATION CONTACT: <br />Ken Chavious 245-2453 <br />Pam Jones 245-2652 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To conduct a public hearing on matters related to financing the purchase of <br />property located at 112 and 118 North Churton Street in Hillsborough, and to take action <br />required on such matters to facilitate the acquisition of funds. <br />BACKGROUND: At the December 12, 2000 meeting, the Board of Commissioners approved <br />the purchase of property that it currently leases from CCB at 112 and 118 North Churton Street, <br />Hillsborough, contingent upon favorable results from the general building assessment and <br />environmental analysis; and authorized the staff to pursue financing for the acquisition. <br />Results of the environmental analysis reflected the presence of an underground storage tank <br />(UST) behind the smaller building at 118 N. Churton Street. Initial review by the consultant <br />showed it to contain water. Further analysis of an abandoned well on the site has prompted <br />additional testing in order to determine the impact of the UST, however. CCB has agreed to <br />address the removal of the tank. The County Attorney will continue dialogue with them as we <br />review the test results associated with the well. Closing on the property would be conditioned <br />upon the successful abandonment of the well and mitigation of any contamination resulting from <br />the UST. <br />The only other notable environmental issue involved asbestos containing materials in the form <br />of floor tile and pipe wrap. The floor tiles are in good shape and pose no environmental threat. <br />The pipes, which are wrapped with the deteriorating suspect material, are located in the <br />basement of the smaller building and are no longer in use as part of the heating system. The <br />pipe wrap will be removed and disposed of properly. There were no environmental issues cited <br />in regard to the old bank building at 112 N. Churton Street. There were no notable findings as a <br />result of the general building condition assessment at either facility.