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Authorization of Real Estate Purchase
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INFORMATION CONTACT:
Clayton Voignier, County Manager’s Office, Assistant County Manager, 704-283-3687
ACTION REQUESTED:
1) Authorize the County Manager to i) negotiate and execute an agreement substantially consistent with this agenda item, ii) exercise any renewal or extension term options set forth in the Agreement, iii) terminate the Agreement if deemed in the best interest of the County, each in the County Manager's discretion, and 2) approve Capital Project Ordinance #349C.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
This real estate purchase agreement is for 8.01 total acres in Monroe from two tax parcels identified as: tax parcel number 09-274-035 consisting of 6.32 acres and tax parcel number 09-274-035D consisting of 1.978 acres both owned by Monroe Marketplace Partners, LLC. Capital project ordinance (CPO) 349C appropriates $807,214 in 2/3rds general obligation bond premiums to support, in part, this real estate purchase and the associated attorney and title fees.
FINANCIAL IMPACT:
$4,140,000. Includes the real estate purchase price of $4,100,000, and associated attorney and title fees at $40,000.