Agenda - 05-01-2001-9b - Laserfiche WebLink

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Board, and contingent upon an acceptable environmental report, closing on the property would occur an or before May 31, 2001. Further, a survey will be required of the site. G.S. 143, Article 3D allows counties to exempt themselves from a selection process'for surveyors on any project if the professional fee will be less than $30,000, or, in their discretion, on any project by stating the reasons therefor. In order to expedite the survey work and since the cost of work is estimated to be a fraction of the $30,000 threshold, it is recommended that the County exempt this project from the selection process. FINANCIAL IMPACT: The estimated purchase price of this property totals $3,550,000 (including estimated closing costs). Funds to purchase the property would come from three sources: 1997 voter approved bond funds ($2.7 million), School/Park Reserve Fund ($800,000), and the Subdivision Payment-in-Lieu Fund ($50,000). The chart below provides additional financial information regarding the funds available in the School/Park Reserve Fund following the purchase of both the Hunter and Bolin Creek (Cate) properties: School/'Park Reserve Fund Funds Available 7/01/00 (including interest earnings) 3,071,549 Projects Funded: McGowan Creek Preserve 78,549 Hunter Properly 1,065,000 Bolin Creek (Cate) Property 00 Funds Remaining after Purchase of Hunter and Bolin Creek Properties 1,128,000 Upon BOCC approval of this purchase, staff will present a corresponding budget amendment at the May 15 BOCC meeting. RECOMMENDATION(S): The Manager recommends that the Board • Approve the purchase of three adjacent tracts of land. (total 149 acres) on Old NC 86 from John Henry Cate, Jr. and Roderick Cate; and • Authorize the Chair to sign the two contracts on behalf of the County; and • Instruct the County Attorney and staffs from ERCD and Finance to schedule and complete closing on the properties on or before May 31, 2001; and • Exempt this project from the requirements of GS 143,. Article 3D as it respects the selection of surveyors.