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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 3/24/08 Agenda Item # G- <br />SUBJECT: <br />Former First Union Bank Building -Salloum Ventures, LLC -Buyer Possession Before <br />Closing Agreement <br />BRIEF SUMMARY: <br />Salloum Ventures intends to close on the purchase of the Former First Union Bank <br />Building on or before May 15, 2008; however they would like to begin making renovations <br />to the unoccupied areas of the building and ultimately occupy this space prior to the actual <br />closing date. The attached agreement defines the request as well as the <br />responsibilities/liabilities of the County and Salloum Ventures. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />1. Review and approve the Buyer Possession Before Closing Agreement. <br />2. Authorize County Manager and County Attorney to execute the agreement. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Mlke Downs/Deputy County Manager Date: 3/24/08 <br />Name /Job Title <br />Budget Amendment Required: ^ Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^ No <br />County Manager's Recommendations/Comments: <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />-~ <br />