Laserfiche WebLink
<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # E-l.o <br /> <br />Meeting Date 8/15/05 <br /> <br />SUBJECT: <br />Sale of the Former Cabarrus Bank/First Union Building <br /> <br />BRIEF SUMMARY: <br /> <br />On June 14, the Board received an offer of $1 ,260,000 from Allen Craven, LLC, for the <br />purchase of the former Cabarrus Bank/First Union Building and authorized initiation of the <br />upset bid process. The first bid period ended on June 30, during which time a bid of <br />$1,323,050 was received from Danny Bost LLC. The new offer was advertised and a new <br />offer of $1 ,389,253 was received from Allen Craven, LLC, on July 20. The Craven offer <br />was advertised and the time for submitting upset bids ended at 5:00 p.m. on August 9. No <br />additional bids were received. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approve the final offer of $1,389,253 by Allen Craven LLC for the purchase of the former <br />Cabarrus Bank/First Union Building and authorize the County Manager and County <br />Attorney to enter into agreement(s) as required for the sale of the building pursuant to the <br />provisions of the Purchase and Sale Agreement submitted by Allen Craven, LLC. <br /> <br />Attachments [gj Yes D No Expected Length of Presentation <br />Submitted By: John Day, County Manager Date: 8/10/05 <br /> <br />Budget Amendment Required: DYes D No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: DYes D No <br /> <br />County Manager's Recommendations/Comments: <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Approved <br /> <br />Denied <br /> <br />Action Taken: <br />[ ] <br />[ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />IZ-Io <br />