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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 10/18/04 <br /> <br />Agenda Item # <br /> <br />£-l, <br /> <br />SUBJECT: <br />Sale of former First Union Building (Cabarrus Bank Building) <br /> <br />BRIEF SUMMARY: <br /> <br />Pursuant to advertisement for upset bid, the County received an upset bid in the amount of <br />$1.3 million. On October 4, 2004, the County Attorney provided the BOC and County <br />Management with a written summary of the business and legal considerations regarding <br />this upset bid submittal. <br /> <br />REQU ESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />The County Attorney requests that the Board consider and adopt one of the three legally <br />permissible options set forth in the written summary of options provided to the BOC on <br />Monday, October 4, 2004. Strictly from a legal perspective, the preferred choice of the <br />County Attorney is option 3, sanctioned by the Institute of Government. <br /> <br />Attachments 1&1 Yes 0 No Expected Length of Presentation 10-15 minutes <br /> <br />Submitted By: Marilyn Porter, County Attorney Date: 10/6/04 <br /> <br />Name / Job Title <br /> <br />Budget Amendment Required: 0 Yes 1&1 No <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />County Manager's Recommendations/Comments: <br /> <br />0 Yes <br /> <br />0 No <br /> <br />Following the advise of the County Attorney is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />d£Q <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred <br />Other <br /> <br />[ ] <br />[ ] <br /> <br />£-1.. <br />