Title
Vote to accept an offer to purchase approximately 8.139 acres of property, and its improvements, collectively the "Old Central Services Facility/Property", in ownership of the Chatham County Board of Education located at 369 West Street, Pittsboro, with Parcel ID 62426, at a value of $2,770,290.80
Abstract
Introduction & Background: The Chatham County Board of Education wishes to dispose of a parcel of land in its ownership by way of conveyance to Chatham County pursuant to G.S. 115C-518, which states, "the board of education shall offer the property to the board of commissioners at a fair market price or at a price negotiated between the two boards". The subject property is that of the former Central Services Building located in Pittsboro at 369 West Street. With the building of a new Central Services facility off Renaissance Drive, this property, and the facilities upon this property, are being vacated by the Chatham County School System. At its July 10, 2023, meeting, the Board of Education, making the finding that the subject property and its improvements are no longer necessary for public school purposes, took action to declare the same surplus and to offer it to Chatham County at fair market value.
The deeded acreage of the property is 8.875 acres. The Board of Education desires to retain approximately 0.736 acres, which is a gravel parking lot presently being used by Pittsboro Elementary School. If approved, through the conveyance process, the acreage associated with the gravel parking lot will be subdivided out of the larger parcel and retained by the Board of Education.
The proposed fair market value is derived through the assessed value of the land and its improvements according to Chatham County tax value assessment. The total tax value of land and structures is $2,872,657.00. The total tax value, minus the 0.736 acres, is $2,770,290.80, which is the proposed fair market value for this transaction.
As understood and agreed to by the ...
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