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31 <br /> Slide#4 <br /> Terms of the Sale <br /> Sale Price: $1 ,350,000 <br /> Inspection Period: 60 Days <br /> Closing: by June 30t", 2025 <br /> Earnest Money: $25,000 <br /> Payment in Lieu: $35,000 to Hillsborough for <br /> future road construction to southern boarder <br /> ORANGE COUNTY <br /> NORTH CAROLTNA <br /> Slide #5 <br /> Purchase Process <br /> • During the Inspection Period (60 Days): <br /> County completes due diligence on the properly. <br /> The County and Capkov agree to a preliminary site plan,before submission to <br /> the Town of Hillsborough in early May. <br /> Capkov submits to the County easements and a declaration for County approval. <br /> The County may approve and record after the inspection period. <br /> • During/After Inspection Period — by June 30tn <br /> 2025 <br /> — Board approves easements and declarations and records them. <br /> — County prepares closing documents and closes on the property <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Commissioner Portie-Ascott said listening to those who have come to speak to the Board <br /> tonight, and considering the great success of the Crisis Diversion Team and Criminal Justice <br /> Resource Department, she questions moving forward with the purchase of this property now. She <br /> said that she has been very excited about the project, but it seems the world has been turned <br /> upside down in the last few weeks. <br /> Chair Bedford said this vote will be in two parts but would highly encourage the Board to <br /> buy the land, as it was included in this year's budget. <br /> Commissioner Carter said she also questioned the purchase and noted that the real estate <br /> market has shifted. She said she has questions about sharing the parcel of land. She asked how <br /> that will work. <br /> Alan Dorman said during the initial negotiations, there was discussion about sharing the <br /> development costs but that became difficult. He said the strategy became that they should buy <br /> the property and do what the Town of Hillsborough says to do for it to be developed fully. He said <br />