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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />JULY 20 2015 <br />1 <br />�I3 CARS 1�1�� <br />• P .M. <br />AGENDA CATEGORY: <br />Old Business <br />SUBJECT: <br />Infrastructure and Asset Management - Offer for Purchase of Tax <br />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. One <br />particular parcel, located at 902 Buick Avenue in Kannapolis, recently <br />received an offer to purchase independently of the web service for $3,500 <br />from Josh Collins at Journey Investment Group, LLC. In order to accept <br />his offer, the parcel was required to go through the standard upset bid <br />process. The process for upset bids is attached (G.S. 160A -269). <br />* Allowing for the required 10 days, the upset bid deadline closed on <br />Friday, June 26, 2015 at 4:00 p.m., by which time no upset bids were <br />received, therefore completing the upset bid process. <br />REQUESTED ACTION: <br />Motion to award the 902 Buick Avenue property to Josh Collins at Journey <br />Investment Group, LLC and to authorize the County Manager and County <br />Attorney to finalize the transaction and execute related documentation. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Kyle Bilafer, Infrastructure and Asset Management Director <br />E -2 Page 46 <br />