Laserfiche WebLink
LEASE PURCHASE AGREEMENT BETWEEN THE STATE OF NORTH CAROLINA <br /> AND THE COUNTY OF CABARRUS <br /> <br />Length of Lease Purchase Agreement - 10 years with one renewal. <br /> <br />Cost of Lease Purchase - $1.00 per year. <br /> <br />Proper _ty Involved - State owned land at Stonewall Jackson Training School consisting of <br />approximately 500 acres (exact amount to be determined by survey). <br /> <br />Purpose - To establish an agricultural park according to the guidelines in the report <br />"Findings and Recommendations of Governor Martin's Advisory Committee on <br />Agricultural Parks, January 1988." This park would be an economic hub for agribusiness <br />consisting of a collection of firms located in facilities near each other and devoted <br />primarily to agricultural and agribusiness activities. Park business activities could include <br />standard services such as the processing and marketing of fruits, vegetables, poultry, <br />livestock and the storage of stable state commodities. It could also include farm <br />equipment and input dealerships and the precooling of perishable foods. The common <br />element among park tenants would be their participation as a link in the producer-to- <br />consumer chain. This concept would be sufficiently broad to include activities beyond <br />the traditional food processing notions. While processors may be one type of tenant in <br />the park, other important services and features should be included such as packing, <br />storage, trucking and brokerage. <br /> <br />Cost of Land Purchase - Market price (to be determined by market appraisal). Appraisal <br />to be done by two State approved MAI appraisers. Average of the two to establish <br />price. County will pay for appraisal within the first year of the lease/purchase. <br /> <br />Method of Operations - Cabarrus County would own the lease purchase agreement. <br />Some type of board or authority would be established by the County to develop the park <br />for Cabarrus County. Under this lease purchase agreement, Cabarrus County would be <br />able to develop the infrastructure and sell the land to potential business clients and <br />repay the State of North Carolina the appraised market price per acre. <br /> <br /> <br />