Laserfiche WebLink
CABARRUS COUNTY <br />BOARD OF • • <br />REGULAR MEETING <br />1� <br />p TBcA�a 11i AUGUST 2 0 , 20 <br />��fiiffJfl /�� <br />1 P .M. <br />AGENDA CATEGORY: <br />Old Business <br />SUBJECT: <br />BOC - Old Bethel School Upset Bid Process - Update <br />BRIEF SUMMARY: <br />A bid from C- Voltaics for $17,000 was received on August 6, 2012. On <br />August 7, a new bid notice was issued to bidders / interested parties and <br />posted to the County's website. Bidders have until 5 p.m. on Friday, <br />August 17, 2012 to submit an upset bid. The new minimum bid amount is <br />$17,900. Bids must be accompanied with a 5 percent bid deposit in the <br />form of cash, cashier's check, certified check or a surety bond. <br />A qualified higher bid is one that raises the existing offer by not less than <br />10 percent of the first $1,000 of that offer and 5 percent of the remainder <br />of that offer. <br />If no other bids are received by the deadline, the upset bid process will be <br />complete. Staff recommends the property be awarded to the highest <br />bidder at the August 20th regular meeting. <br />If a qualifying bid(s) is received, the upset bid process will continue until a <br />10 -day period has passed without any qualifying bids having been <br />received. <br />REQUESTED ACTION: <br />Motion to award the old Bethel School property to the highest bidder and <br />authorize the County Manager and County Attorney to finalize the <br />transaction and execute related documentation. <br />EXPECTED LENGTH OF PRESENTATION: <br />E -1 Page 58 <br />