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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />FEBRUARY 19, 2018 <br />6:30 P.M. <br />County Manager - Purchase of Property for Rowan-Cabarrus Community <br />College - Public Hearing 6:30 p.m. <br />BRIEF SUMMARY: <br />County staff has negotiated the purchase of an 8.87 acres parcel on Trinity <br />Church Road for future use by Rowan-Cabarrus Community College. The <br />terms of the purchase include an initial payment and three subsequent <br />annual payments including a 2 percent annual interest rate. Because the <br />property is being purchased through owner financing, a public hearing is <br />required along with Board of Commissioners' approval. The parcel site <br />address is 1750 Trinity Church Road. The purchase price is $140,000 per <br />acre for a total of $1,241,800. <br />REQUESTED ACTION: <br />Hold public hearing. <br />Motion to approve the contract to purchase the 8.87 acres Page property <br />including authorization for the County Manager to sign all related <br />documents subject to review by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Jonathan B. Marshall, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />G-1 Page 174 <br />