HomeMy WebLinkAboutRES-2022-026-Orange County Board of Commissioners resolution leasing property up to ten years RES -202M26 ` q/ 6 4 �) Attachment 1
ORANGE COUNTY BOARD OF COMMISSIONERS
RESOLUTION LEASING PROPERTY UP TO TEN YEARS
Whereas , Orange County owns properties located at 501 W . Franklin Street , Chapel Hill ,
NC 27517 ( PIN 9788 15 1996 ) , 503 W . Franklin Street , Chapel Hill , NC 27517 ( PIN 9788
15 1829 ) , 108 S . Roberson Street , Chapel Hill , NC 27517 ( PIN 9788 15 2822 ) , (the
" Premises ") ; and
Whereas, Well Dot , Inc . , a Delaware Corporation with health care operation facilities in
Chapel Hill , North Carolina , desires to lease the Premises to expand its business in North
Carolina ; and
Whereas, the Premises will not be needed for Orange County operations during the term
of such lease ; and
Whereas , North Carolina General Statute 160X272 authorizes the lease of county-
owned properties for terms of up to ten years upon resolution of the Board of
Commissioners at a regular meeting after thirty ( 30 ) days ' public notice and North
Carolina General Statute 158J . 1 also authorizes the lease of county- owned properties
subject to public notice , which public notice has been published ; and
Whereas , in consideration of the economic development opportunities including the
creation of 360 new full time jobs by December 31 , 2025 , at an annual salary of Sixty
Three Thousand Six Hundred Sixty Five dollars ($ 63 , 665 . 00 ) plus benefits , and new
capital investment in Orange County of $ 3 , 493 , 600 , the Board of Commissioners of
Orange County desires to lease the Premises to Well Dot , Inc . , for a base rental fee of
Thirty Three Thousand Seven Hundred Fourteen Dollars and Sixty-seven Cents
($ 33 , 714 . 67 ) per month , the fair market value lease rate , for a ten ( 10 ) year term with two
optional renewal terms of five ( 5 ) years , with such renewal subject to additional Board of
Commissioner approvals and granting an option to purchase to Well Dot , Inc . , as
described in the Lease and as authorized by North Carolina General Statute 158J . 1 .
THEREFORE BE IT RESOLVED, that Board of County Commissioners of Orange
County hereby approves the lease of the county property described above to Well Dot ,
Inc . , for a term of ten ( 10 ) years commencing subsequent to a 120 day inspection period
with a two potential renewal terms of five years each and directs the execution ,
recordation , and filing of all necessary instruments accordingly .
This the 24th Day of May , 2022 . r
Renee Price , Chair
Orange County Board of Commissioners