AG 2000 12 18 - Laserfiche WebLink

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$74 D AFT w~EAS, J & B has agreed to convey approximately 17 additional acres to the County on behalf of the School Board in order to provide the requisite acreage to meet school needs, in exchange for ~he conveyance to J & B of the Davideon Tract~ and WHEREAS, the County is willing to waive its right to purchase the Davideon Tract under N.C.G.S. S115C-510 and ~he School Board wishes to convey the Davidson Tract to J & B via the a~ove mentioned transfer. NOW, '~FORB, the Cabarrua County Board of Commissioners hereby waives its right to purchase ~he Davidson Tract under N.C.G.B. S115C-518 and authorizes the Chair to execute any necessary instruments consistent with the transfer of the Davidson Tract aa described herein. This the 4~ day of December, 2000. /sf zr~k~e z. Bonds Frankie F. Bonds, Clerk cabarrus County Board of Comm~ssioners Fai~ound~ Propert7 By:/s/ Arne Fennel The Board received the documents (Letter Acjreement, Deed of Proper~y, and Lease A~reement) that had been executed by officials of the Cabarrua County A~ricultural Fair, Inc. Chairman Fennel pointed out that. Board members had been working on the Fairgrounds property issue for a number of years. Mr. Hardee11 adviaed there might be a more formal agreement as a follow up to the La=tar Agreement. U~ON MOTION of Commissioner Barnhart, seconded by Conunissionar Casper and unanimously carried, the Board took the following action= (1) Approved a 'Letter A~reement# between Cabarrus County a~d the Cabarrus County Agricultural Fair, ~nc., agreeing to =he items listed below~ (2) ~cepted the Deed transferring the c~rrent Fairgrounds property (approximately 11.910 acres aC the in=ersectton of Cabarrus Avenue West and the Union Ce~tery Road) from the cabarrus County Agricultural Fair,. Inc., CO Cabarrus County~ (3) Approved a Lease A~reement between Cabarrus County and the Cabarrus County Agricultural Fair for the lease of the Fairgrounds property (approximCely 11.910 acres) and reinstating the lease dated August 2, 1993 for an adjacent 14.20 acre tract owned by the County through December ~1, 2001~ and (4) Authorized the Chairman to execute ~he documents on behalf of Cabarrus County. The items as agreed to in the Letter Agreement were as follows~ (a) TO ~mploy Mrs. Hammill as a county employee effective January 1, 2002, to serve as staff working under the direction of ~h~ County's designated Fair Manager at the New Fair Site, among other aesigued dutiee~ (b) To hold in an interest-hearing escrow account the proceeds of sale, if any, of the ~Dera~sed Premises" and the 14.20 acre tract owned by County adjacent to the Demised Pre~/ses, as described in the Fair,rounds Lease until October 1, 2002. At that time, the proceeds, if any, shall he distributed to the County, provided Chat the County has sponsored and completed the calendar 2002 Fair as contemplated in the Fairgrounds Lease. With the written consent of the Fair Association, a portion or por~ioan of the proceeds, if any, may be distributed to the County in advance of October 1, 2002, for application upon the construction cost of the Facilities for the Fair at the New Fair Site. In -th~ event that no Fair has been held at the New Fair Site by October 1, 2002, either the County or the Fair Association n~ay institute a declare=cry judgment action in the Superior Cour~ for Cabarrue County to determine the ownership and distribution of the funds, If any, held £n escrow as though the Fair Association had conducted the Fair for 2002 ~on the Demised ~remises; and (c) The County will assu~e responn~biliCies of the Fair Association under the Deggellar Contract dated May 22, 2000, for the calendar 2002 Fair. The Lease A~reement as approved by the Board is on file in the Office of the County Manager and included by reference as a par~ of the minutes.