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December 5, 1996 <br /> <br />MEMORANDUM <br /> <br />TO: Board of Commissioners ~ <br />FROM: Frank W. Clifton, Jr., County Mana <br /> <br />RE: Vacant County Buildings <br /> 70-82 Union Street, South <br /> Concord, NC <br /> <br />At the direction of the County Commission, I have been pursuing alternatives related to the future of <br />County-owned properties located at 70-82 Union Street, Concord. Alternatives considered include: <br />demolition for future parking, renovation and reuse by the County, joint ventures for future disposition <br />with the City or other agencies and public sale. <br /> <br />It is thought that the buildings do not warrant any serious consideration for reuse by the County. <br />Renovation costs for County usage would far exceed reasonable considerations based upon available <br />square footage. <br /> <br />Demolition and creation of additional public parking is an alternative that may have merit. However, the <br />demolition would be expensive, the net cost per parking space gained would be high and the public <br />reaction to the demolition of that portion of the buildings having some historical worth would be <br />negative. <br /> <br />Pursuit of a public sale appears to be the most viable course of action. In that vein, I would propose that <br />we pursue an agreement with the Historic Preservation Foundation of North Carolina (I-IPFNC) that <br />would allow them to market the property for a one-year period at a listed sale price of $100,000. If the <br />property sells, the HPFNC retains a commission of $3,500 for its efforts. If the property does not sell, <br />we will then pursue other options. <br /> <br />The HPFNC will place protective covenants on the property [fit is sold to ensure that the historic aspects <br />of the structure are retained. If we are successful, there would be an enhancement to the downtown <br />Concord area; and the County would have achieved its goal of disposing of the properties while also <br />having a positive impact on the neighborhood. <br /> <br />Your approval of the proposed option agreement is sought. You would approve any final sale. <br /> <br />Attachments: <br /> A. <br /> B. <br /> C. <br /> D. <br /> <br />Option Agreement <br />PNC Revolving Fund Explanation <br />Excerpts from NC Preservation 1996 <br />Appraisal Summary August 1995 <br /> <br /> Office of the County Manager <br /> <br />P. O. Box 707 · Concord, NC 28026-0707 · (704) 788-8100 · Charlotte 375-0829 <br /> I <br /> <br /> <br />