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CABARRUS COUNTY <br />A <br />* <br />REGULAR MEETING <br />SEPTEMBER 19, 2016 <br />i �'y�J,rJJl� ll <br />1 <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />IAM - Offer for Purchase of Tax Foreclosure Property <br />BRIEF SUMMARY: <br />Tax foreclosure parcels that are not purchased through the courthouse <br />auction have been sold using an online surplus property web service. <br />Those online auctions have a time limited duration. One particular parcel, <br />located at 3015 NC HWY 24 -27 E in Midland, has recently received an <br />offer to purchase, prior to advertising the property on the online surplus <br />property web service. The offer to purchase is for $2,000 from Sumathy <br />Farmer, a resident of Pearland, TX and the owner of one of the adjacent <br />parcels. Both adjacent parcel owners were sent letters about the <br />availability of the parcel when the Tax Department notified Infrastructure <br />and Asset Management that the parcels didn't sell during the courthouse <br />auction. In order to accept this offer to purchase it is required to go <br />through the standard upset bid process. The process for upset bids is <br />attached (G.S. 160A -269). <br />* Allowing for the required 10 days, the upset bid deadline closed on <br />Friday, September 16, 2016 at 4:00 p.m., by which time no upset bids <br />were received, therefore completing the upset bid process. <br />REQUESTED ACTION: <br />Motion to award the 3015 NC HWY 24 -27 E property to Sumathy Farmer <br />and to authorize the County Manager and County Attorney to finalize the <br />transaction and execute the related documentation. <br />EXPECTED LENGTH OF PRESENTATION: <br />F -9 Page 105 <br />