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ICABARSUSCOUNTYI <br /> <br />NO~T~ CAROIlN~ <br /> <br />March 11, 1999 <br /> <br />MEMORANDUM <br /> <br />TO: Board of Commissioners <br /> <br />RE: Upset Bid Process for County Owned Land on Highway 601 Bypass <br /> <br />The bid of Troutman Land Investments at $381,600 was advertised on February 28th with an <br />upset bid deadline of March 10tn. <br /> <br />An upset bid of $455,000 was submitted by Jerry Newton Real Estate and Development along <br />with the appropriate deposit. <br /> <br />The process will continue to the next step. <br /> <br />As soon as publication dates are established, another advertisement seeking upset bids above that <br />offered by Mr. Newton will be published and the upset period of 10 days held again. <br /> <br />We will advise you of further progress. <br /> <br />Respectfully, <br /> <br />FWC/sb <br /> <br /> Office o! the County Manager <br /> <br />P. O. Box 707 · Concord, NC 28026-0707 · (704) 788-8100 · Charlotte 375-0829 <br /> T_1 <br /> <br /> <br />