BC 2000 12 04 - Laserfiche WebLink

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574 WHEREAS, 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 the conveyance to J & B of the Davidson Tract; and WHEREAS, the County is willing to waive its right to purchase the Davidson Tract under N.C.G.S. §115C-518 and the School Board wishes to convey the Davidson Tract to J & B via the above mentioned transfer. NOW, THEREFORE, the Cabarrus County Board of Commissioners hereby waives its right to purchase the Davidson Tract under N.C.G.S. §115C-518 and authorizes the Chair to execute any necessary instruments consistent with the transfer of the Davidson Tract as described herein. This the 4tn day of December, 2000. ATTEST: /s/ Frankie F. Bonds Frankie F. Bonds, Clerk Cabarrus County Board of Commissioners By:/s/ Arne Fennel Arne Fennel Chair, Cabarrus County Board of Commissioners Fairgrounds Property The Board received the documents (Letter Agreement, Deed of Property, and Lease Agreement) that had been executed by officials of the Cabarrus County Agricultural Fair, Inc. Chairman Fennel pointed out that Board members had been working on the Fairgrounds property issue for a number of years. Mr. Hartsell advised there might be a more formal agreement as a follow up to the Letter Agreement. UPON MOTION of Commissioner Barnhart, seconded by Commissioner Casper and unanimously carried, the Board took the following action: (1) Approved a "Letter Agreement" between Cabarrus County and the Cabarrus County Agricultural Fair, Inc., agreeing to the items listed below; (2) Accepted the Deed transferring the current Fairgrounds property (approximately 11.910 acres at the intersection of Cabarrus Avenue West and the Union Cemetery Road) from the Cabarrus County Agricultural Fair, Inc., to Cabarrus County; (3) Approved a Lease Agreement between Cabarrus County and the Cabarrus County Agricultural Fair for the lease of the Fairgrounds property (approximately 11.910 acres) and reinstating the lease dated August 2, 1993 for an adjacent 14.20 acre tract owned by the County through December 31, 2001; and (4) Authorized the Chairman to execute the documents on behalf of Cabarrus County. The items as agreed to in the Letter Agreement were as follows: (a) To employ Mrs. Hammill as a county employee effective January 1, 2002, to serve as staff working under the direction of the County's designated Fair Manager at the New Fair Site, among other assigned duties; (b) To hold in an interest-bearing escrow account the proceeds of sale, if any, of the "Demised Premises" and the 14.20 acre tract owned by County adjacent to the Demised Premises, as described in the Fairgrounds Lease until October 1, 2002. At that time, the proceeds, if any, shall be distributed to the County, provided that 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 portions 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 the event that no Fair has been held at the New Fair Site by October 1, 2002, either the County or the Fair Association may institute a declaratory judgment action in the Superior Court for Cabarrus County to determine the ownership and distribution of the funds, if any, held in escrow as though the Fair Association had conducted the Fair for 2002 upon the Demised Premises; and (c) The County will assume responsibilities of the Fair Association under the Deggeller Contract dated May 22, 2000, for the calendar 2002 Fair. The Lease Agreement as approved by the Board is on file in the Office of the County Manager and included by reference as a part of the minutes.