January 26, 2016
Agenda Item Title
Recommend Final Approval of Offer to Purchase and Contract for Sale of Certain Property Adjoining Ballantyne Elementary School to Meritage Homes
Peggy Hey, Executive Director of Facility Planning and Management
- CMBE owns property in vicinity of Ballantyne Elementary School.
- The Board of Education has previously (i) determined that the property will no longer be needed by the Board of Education and (ii) proposes to sell the property.
- CMS staff has complied with the procedures outlined in G.S. 160A-269 (negotiated offer, advertisement, upset bid). The highest offer was a purchase price of $6,000,000 from Meritage Homes of the Carolinas, LLC.
- The proposed sale has been taken through the mandatory referral process and the Board of County Commissioners declined its right of statutory Right of First Refusal on December 15, 2015.
- Final authorization is requested to accept the offer and authorize the Superintendent to approve the contract.
The sales price is $6,000,000. Normal closing costs will be deducted from the proceeds.
Agenda Item Type
Recommend approval for Offer to Purchase and Contract for sale of certain property adjoining Ballantyne Elementary School of Meritage Homes for a purchase price of $6,000,000.