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Budget Amendment #11
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INFORMATION CONTACT:
Brian Matthews, Assistant County Manager, 704-292-2597
ACTION REQUESTED:
Approve Budget Amendment #11
BACKGROUND:
On November 15, 2021, the BoCC authorized the purchase of real property located at 5301 Friendly Baptist Church Road and 0 Friendly Baptist Church Road (Union County Tax Parcels #08231002C and #08231002B) in the amount of $140,000 for remediation of an environmental health issue.
In addition to the purchase cost of the properties mentioned above, there are additional costs estimated at $60,000. Due to a proposed settlement agreement with the State of North Carolina, it is expected that about half of a portion of these expenses will be reimbursed by the state (estimated reimbursement = $85,000).
FINANCIAL IMPACT:
Costs are estimated at $200,000, approximately $85,000 are expected to be reimbursed by the State.