To: The Honorable Mayor and Board of Commissioners From: Gerald D. Vincent, Assistant Town Manager Subject: Offer to Purchase Harvest Point Lots
Matt McMullen, Grande Homes, has submitted a formal offer to the Town, plus a deposit of 5% to purchase two (2) vacant lots within the Harvest Pointe subdivision for residential purposes.
This process is required by North Carolina Statute known as an Upset Bid process whereas a proposed formal offer is made, a 5% deposit is submitted and the Board will hear the request and authorize staff to proceed with an advertisement to be published in a local newspaper. Within ten (10) days of the advertisement, prospective bidders may submit an upset bid. Once the ten (10) days has passed, the item will be set for the April 18 agenda for Board approval.
An appraisal was performed approximately two (2) years ago indicating the market value was $45,000/lot as of August 5, 2014.
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