AG 2003 12 15 - Laserfiche WebLink

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RESOLUTION OF CABARRUS COUNTY, NORTH CAROLINA APPROVING THE CONTRACT FOR SALE WITH FFC LIMITED PARTNERSHIP WHEREAS, Cabarrus County, North Carolina (the "County") is a fully and regularly created, organized and existing corporation of the State of North Carolina, existing as such under and by virtue of the Constitution, statutes and laws of he State or North Carolina; and WHEREAS, the Cabarrus County Board of Commissioners (the "Commissioners") has the power, pursuant to North Carolina General Statutes, Section 158-7.1 to convey interests in property by private negotiation and may subject the property to such covenants, conditions and restrictions as the County deems to be in the public interest or necessary to carry out the purposes of that Section; and WHEREAS, the Commissioners hereby determine that the sale to FFC Limited Partnership (the "Purchaser") of approximately 1.0 acres of land of the former County Fairgrounds property (the "Project") will stimulate the local economy, promote business and result in the creation of a substantial number of jobs in the County; and WHEREAS, for the PUrpose of accomplishing the sale of the Project, the Commissioners have determined that it is in the best interest of the County that the County and the Purchaser enter into a Contract for Sale dated on or about October 24, 2003 (the "Contract") to provide for the sale by the County to the Purchaser of the Project; and WHEREAS, the Commissioners hereby determine that a public hearing concerning the proposed sale of the Project to the Purchaser, after publication of notice with respect to such public hearing, was duly held on December 15, 2003 at 6:30 p.m. in the Commissioners Chamber, Cabarrus County Governmental Center, 65 Church Street, SE, Concord, North Carolina; and WHEREAS, the Commissioners hereby determine that the fair market value of the title to the Project is $432,000 per useable acre and that the consideration to be paid to the County by the Purchaser, is not less than said fair market value; and WHEREAS, the County hereby determines that the sale of said property will stimulate the economy by providing 45 jobs at an average annual wage of $10667;