Orange County NC Website
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 24, 2022 <br /> Action Agenda <br /> Item No. 8-i <br /> SUBJECT: Proposed Sale of 129 East King Street, Hillsborough, NC <br /> DEPARTMENT: Asset Management Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. Offer for the Purchase and Sale of Travis Myren, Deputy County Manager, <br /> Improved Property 919-245-2308 <br /> 2. Appraisal Cover Letter of 129 East Steven Arndt, Asset Management <br /> King Street, Hillsborough, NC Services Director, 919-245-2658 <br /> 3. North Carolina General Statute 160A- <br /> 269 Negotiated Offer, Advertisement, <br /> and Upset Bids <br /> 4. Resolution Authorizing the Sale and <br /> Upset Bid Process for 129 East King <br /> Street <br /> PURPOSE: To consider the approval of the sale of County-owned property located at 129 East <br /> King Street, Hillsborough, NC, and the approval of a resolution authorizing the sale of the property <br /> through a negotiated offer, advertisement, and upset bid process. <br /> BACKGROUND: The County-owned property at 129 East King Street consists of a .24 acre site <br /> with a 7,100 gross square foot facility that was originally constructed in 1947 for use as a retail <br /> furniture store. Orange County acquired the property in 2001 and renovated it for use as an office. <br /> It is located near the center of Hillsborough, close to the Historic Courthouse. The facility is in <br /> poor condition, with numerous structural and environmental issues, and has been vacant since <br /> late 2018. <br /> After touring the facility, Miller Property Management, LLC, located in Durham, NC, presented the <br /> County with an unsolicited offer to purchase the property for $178,000 on May 16, 2022 <br /> (Attachment 1). The County previously received an unsolicited offer of$150,000 on April 25, 2022 <br /> for the property. However, the County is required by statute to consider the highest legal offer for <br /> the sale of any asset. The property was recently appraised in February 2022 at $160,000 <br /> (Attachment 2). <br /> In accordance with North Carolina General Statute 160A-269, public property may be sold through <br /> a negotiated offer, advertisement, and upset bid process (Attachment 3). A resolution authorizing <br /> the sale of the property through this upset bid process is also included (Attachment 4). Should the <br /> Board approve the sale of this property in this manner, a notice of sale will immediately be placed <br /> in a local paper and on the County's Purchasing web page. The notice shall contain a general <br /> description of the property, the amount and terms of the offer, and a notice that within ten days <br />