Title
Vote on a request to accept the offer in the amount of $2,500 for real property in ownership of Chatham County located north of the intersection of Old US 421 N. and Ward Road on the Chatham Randolph County line, with Parcel ID Number 0000189 as authorized by the prescribed method of “negotiated offer, advertisement, and upset bids” process defined by NC General Statute 160A-269.
Abstract
Action Requested: Vote on a request to accept the offer in the amount of $2,500 for real property in ownership of Chatham County located north of the intersection of Old US 421 N. and Ward Road on the Chatham Randolph County line, with Parcel ID Number 0000189 as authorized by the prescribed method of “negotiated offer, advertisement, and upset bids” process defined by NC General Statute 160A-269.
Introduction & Background: Chatham County received an offer of $2,500, by a private party, for a 0.41-acre parcel of land located north of the intersection of Old US 421 N. and Ward Road, NC, with corresponding Parcel ID number 0000189, which is in the ownership of the County. The County obtained possession of this property by way of a tax foreclosure sale in March 2012; the purchase price being $1,503, including interest, recording fee and excise tax.
The County is authorized to dispose of real property belonging to it through five different methods defined by state law. These methods include private negotiation and sale; advertisement for sealed bids; negotiated offer, advertisement, and upset bid; public auction; and exchange. Having an initial offer already made the Chatham County Board of Commissioners approved engaging in the “negotiated offer, advertisement, and upset bid” process, as defined by law at its July 18, 2022, regular meeting.
Since the initial offer acceptance by the Board of Commissioners, the offeror deposited 5% of the bid amount with the County, a notice of the offer was published in the News and Record as provided by the referenced state law and for the duration as required. An upset bid was received during the 10-day public notice period and the offeror deposited 5% of the second bid amount with the County. The property was re-advertised for another 10-day period and an upset bid was not received during the second public notice period. Having followed the procedures as prescribed by law under the upset bid process and having received no raised bids from the second public notice period, the Board of Commissioners may accept the offer and sell the property to the highest bidder - in this case, the second bidder. The Board retains the authority to reject any and all offers at its election.
Discussion & Analysis: The subject property is not currently in use by the County for an active public purpose, nor is it anticipated that any definable public use will be realized in the future if the County were to maintain ownership of this property. Accordingly, staff recommends disposing of this property to the highest bidder, which will allow the property to be placed in private ownership, where the public good may be served by adding to the Chatham County tax base.
How does this relate to the Comprehensive Plan:
Budgetary Impact: The initial sale of the subject property will generate a one-time general fund revenue resulting from the sale proceeds. Provided it is not placed under tax exempt status following the sale, this property will be subject to a tax levy resulting in ongoing general fund revenue generation.
Recommendation: Vote on a request to accept the offer in the amount of $2,500 for real property in ownership of Chatham County north of the intersection of Old US 421 N. and Ward Road on the Chatham Randolph County line, with Parcel ID Number 0000189 as authorized by the prescribed method of “negotiated offer, advertisement, and upset bids” process defined by NC General Statute 160A-269.