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2 <br /> days any person may raise the bid by not less than ten percent (10%) of the first one thousand <br /> dollars, and five percent (5%) of the remainder. When a bid is raised, the bidder shall deposit <br /> with the County five percent (5%) of the increased bid, and the County shall re-advertise the offer <br /> at the increased bid amount for an additional ten days. This procedure shall be repeated until no <br /> further qualifying upset bids are received, at which time the Board may accept the offer and sell <br /> the property to the highest bidder. The final offer will be brought back to the Board for <br /> consideration and approval. <br /> FINANCIAL IMPACT: Sale of this land will convert a non-productive capital asset into at least <br /> $4,000 that may be re-allocated to other County needs. <br /> SOCIAL JUSTICE IMPACT: There are no Orange County Social Justice Goal impacts <br /> associated with this item. <br /> ENVIRONMENTAL IMPACT: There are no Orange County Environmental Responsibility Goal <br /> impacts associated with this item. <br /> RECOMMENDATION(S): The Manager recommends that the Board <br /> 1) Review the offer to purchase the property; and <br /> 2) Approve and authorize the Chair to sign the attached resolution authorizing the sale of 0.27 <br /> acres of land, GIS PIN #985833971, Hillsborough, NC through a negotiated offer, <br /> advertisement and upset bid process, in accordance with North Carolina General Statute <br /> 160A-269. <br />