TITLE:title
Authorization of Land Purchase
body
INFORMATION CONTACT:
Patrick Niland, County Manager’s Office, Deputy County Manager, 704-283-3630
ACTION REQUESTED:
Authorize the County Manager to 1) negotiate and execute an agreement substantially consistent with this agenda item, 2) exercise any renewal or extension term options set forth in the Agreement, and 3) terminate the Agreement if deemed in the best interest of the County, each in the County Manager's discretion, and 4) Approve budget amendment #25.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
This land purchase agreement is for 27.77 total acres in Wingate from two tax parcels identified as: tax parcel number 09-015-013E consisting of 6.19 acres, owned by Dennis Yulan Washburn, and tax parcel number 09-015-013 consisting of 21.58 acres, owned by Vivian A. Chaney heirs. Budget amendment 25 moves $2,114,978 to appropriated fund balance for this land purchase and the associated attorney and survey fees.
FINANCIAL IMPACT:
$2,114,978. Associated attorney and survey fees at $32,228. Land purchase price at $2,082,750.00 apportioned as follows: $464,250 for the parcel owned by Dennis Y. Washburn, and $1,618,500 for the parcel owned by and Karen Chaney Thomas, heirs of Vivian A. Chaney.