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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 23, 2005 <br />Action Agenda ` <br />Item No. Ci <br />SUBJECT: Contract to Purchase Triangle SportsPlex Property <br />DEPARTMENT: Manager/Attorney/Finance PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Proposed Contract Rod Visser, ext 2300 <br />Geof Gledhill, 732-2196 <br />Ken Chavious, ext 2453 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To approve a contract to acquire the Triangle SportsPlex property, <br />BACKGROUND: In Fall 2004, the Board of Commissioners directed staff to perform due <br />diligence analysis regarding the County's potential interest in acquiring the Triangle SportsPlex <br />property, The County s interests relate not only to recreation opportunities, but also to a <br />proposal to construct the new Central Orange Senior Center in conjunction with an expansion of <br />the SportsPlex, The SportsPlex is an 82,000 square foot facility in the Meadowlands Business <br />Park in Hillsborough that provides a regulation ice rink, three swimming pools, fitness <br />equipment, and other recreation amenities. The County operates a small senior center in <br />rented space on property immediately adjacent to the SportsPlex property. <br />At their March 15, 200.5 meeting, the Commissioners adopted a resolution that directed staff, <br />among other actions, to "negotiate with Eaton Vance an agreement to purchase the SportsPlex <br />property at a price not to exceed a figure to be determined b,y the Board, taking into account <br />any adjustments that ma,y be needed for allowances to make necessary and appropriate repairs <br />and refurbishments to SportsPlex property, The agreement fo purchase would be subject to <br />subsequent review and approval by the Board of Commissioners," <br />Dtaring the past three months, County representatives have been working with agents of Eaton <br />Vance to develop a contract to purchase the property that meets the terms and conditions <br />acceptable to the BOCC. The County Attorney will explain the major elements of the proposed <br />contract, including a number of contingencies that protect the County s interests through an <br />anticipated closing in late Fall 2005, <br />