HomeMy WebLinkAboutRES-2022-048-Resolution authorizing upset bid process for 0.27 acre plot GIS pin-985833971 Hillsborough NC RES - 2022 -048
Attachment # 3
Resolution Authorizing Upset Bid Process for 0 . 27 acre plot, GIS Pin # 985833971,
Hillsborough , NC
WHEREAS, Orange County owns certain property, 0 . 27 acres of land located at GIS Pin #
985833971, Chapel Hill , NC ; and
WHEREAS, North Carolina General Statue 160A- 269 permits the County to sell property by
upset bid , after receipt of an offer for the property, and
WHEREAS, Orange County has received an offer to purchase the property described above , in
the amount of $ 4, 000 submitted by Dan and Jean Ricca , owners of adjacent property located at
200 Dumont, Hillsborough , NC ; and
WHEREAS Mr . Ricca has paid the required five percent ( 5 % ) deposit on its offer;
THEREFORE, we , the Orange County Board of County Commissioners resolve that :
1 . The Orange County Board of County Commissioners authorizes the sale of the property
described above through the upset bid procedure of North Carolina General Statute
160A- 269 .
2 . The Orange County Purchasing Agent shall cause a notice of the proposed sale to be
published . The notice shall describe the property and the amount of the offer, and shall
state the terms under which the offer may be upset .
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3 . Persons wishing to upset the' ' offer that has been received shall submit a sealed bid with
their offer to the office of the Purchasing' Agent, located at 405 Meadowlands Drive ,
Hillsborough , NC, within 10 days after the notice of sale is published . At the conclusion
of the ten day period , the Purchasing Agent shall open the bids , if any, and the highest
such bid will become the new offer . If there is more than one bid in the highest amount,
the first such bid received will become the new offer .
4 . If a qualifying higher bid is received , the Purchasing Agent shall cause a new notice of
the upset bid to be published , and shall continue to do so until a 10 —day period has
passed without any qualifying upset bids having been received . At that time , the
amount of the final high bid shall be reported to the Orange County Board of County
Commissioners .
5 . A qualifying higher bid is one that raises the existing offer by not less than ten percent
( 10 % ) of the first $ 1 , 000 of that offer and five percent ( 5 % ) of the remainder of that
offer .
6 . A qualifying higher bid must also be accompanied by a deposit in the amount of five
percent ( 5 % ) of the bid ; the deposit may be made in cash , cashier' s check, or certified
check . The County will return the deposit on any bid not accepted , and will return the
deposit on an offer subject to upset if a qualifying higher bid is received . The County
will return the deposit of the final high bidder at closing .
7 . The terms of the final sale are that :
- The County must approve the final high offer before the sale is closed , which it will
do within 30 days after the final upset bid period has passed , and
The buyer must pay with cash at the time of the closing .
8 . The County reserves the right to withdraw the property from sale at any time before the
final high bid is accepted and the right to reject at anytime all bids .
9 . If no qualifying upset bid is received after the initial public notice , the offer set forth
above is hereby accepted . The County Manager is authorized to execute the
instruments necessary to convey the property to Mr . Rica , 200 Dumont Drive ,
Hillsborough , NC .
This 6th day of September, 2022
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Renee Price, Chair
Orange County Board of Commissioners
Laura Jensen 52
Clerk to the Boardits� 7
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