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AG 2018 05 21
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AG 2018 05 21
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Last modified
5/8/2019 4:07:59 PM
Creation date
5/1/2019 6:14:37 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/21/2018
Board
Board of Commissioners
Meeting Type
Regular
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Supplemental Information to Purchase Bid <br />Former MP Middle School Property <br />Updated May 2018 <br />We have looked at this site extensively and feel we have a good understanding of the potential and <br />challenges this site will bring. Our group of local investors believe in "giving back' to this small <br />community that has been good to us. We want to see this community grow in a controlled and well- <br />planned fashion while keeping the small-town charm its residents have come to enjoy. <br />Our vision incorporates a mixed-use approach. Our estimates show the cost of asbestos abatement and <br />removal of old structures to be $1,170,692 on the low side and $1,751,956 on the high side. Adding this <br />cost to our bid price, the performa shows the actual land investment cost to be $112,099/acre on the <br />low side and $146,407/acre on the high side. This will be a cash sale and with no outside financing <br />involved. We feel this is a reasonable offer considering the amount of asbestos abatement that is <br />needed. The unknown variable is there are two underground fuel storage tanks with some age on them. <br />At this time, we do not know if there is any contaminated soil that will need remediation due to leakage <br />Our redevelopment plans include an anchor grocery store, c -store, general retail, food, and auto parts <br />store along the NC Hwy 49 corridor with luxury townhomes along the North Drive street. Our master <br />plan includes a pedestrian -friendly community and various amenities to encourage families to get <br />outdoors. We envision a small sports field for residents and the community to enjoy as well. I would <br />love the opportunity to discuss purchase of the existing land currently used for ball fields across North <br />Drive so this could be incorporated into the master plan. The current plan also includes renovation of <br />the auditorium and old gym to be available to the community for recreation and small civic events if so <br />desired by the Town of MP. Smaller offices could be renovated with outside store fronts for key man <br />office space and small business owners. <br />We think this plan is viable, is something the local citizens would be proud of, and would produce a tax - <br />base of over $35 million to the Town of MP and Cabarrus County. If this offer is accepted, we are <br />prepared to close within 28 calendar days from bid acceptance. Thank you for allowing us to bring this <br />plan to you and we appreciate your serious consideration. <br />AWachmenl number r \n <br />G-3 Page 164 <br />
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