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NO~1X ~HOtlN~ <br /> <br />MEMORANDUM <br /> <br />TO: Board of Commissioners <br /> <br />RE: Proposal to Purchase County Owned Land Adjacent to Lake Concord <br /> <br />Attached is a proposal from Inland Development Company of Charlotte to purchase <br />approximately 170 acres of County owned land in the area of Lake Concord for $1.1 million. It <br />is a cash offer with the proceeds to be paid at closing. The land is divided into two parcels. <br />Parcel One is the 55m acre tract north of the new Forest Park Elementary School and Parcel Two <br />is a 115± acre parcel east of Little Texas Road. <br /> <br />The County would retain a yet to be defined buffer around the lake of approximately five acres <br />to maintain control of lake access and water quality. Of the approximately 170 acres, about one- <br />third is in floodplains or designated wetlands. <br /> <br />If the Board agrees to sell the property, we will go through the upset bid process and be able tO <br />determine if the sales price is consistent with current market conditions. It is suggested that the <br />proceeds from the sale be used to complete development of the school/park concept at the new <br />Forest Park Elementary with any remaining funds being used to begin development of the added <br />acreage at Frank Liske Park. <br /> <br />ACTION REQUESTED: <br />The Board should either accept or reject the proposed purchase offer. If rejected, no further <br />action is required. If accepted, staff will proceed with the upset bid process. <br /> <br />Respectfully, <br /> <br />FWC/sb <br /> <br />Attachments <br /> <br /> Office of the County Manager <br /> <br />P. O. Box 707 · Concord. NC 28026-0707 ° (704) 788-8100 ,, Charlotte 375-0829 <br /> <br /> <br />