Housing and Neighborhoods
Housing and Neighborhoods MEMORANDUM
DATE:
April 4, 2017
TO:
Mayor and City Council
FROM:
Vincent C. Wong, Housing and Neighborhoods Administrator
THRU:
Michael Peoples, City Manager
SUBJECT:
RESOLUTION FOR OFFER TO PURCHASE; CITY OWNED PROPERTY (HOME) –734 QUEENS COURT, GASTONIA, NC 28052 - $2,517.00
At the March 21, 2017 Council approved the contract for the purchase of 734 Queens Court. The attached resolution was not attached to the contract and is required to be approved to move forward with the purchase.
Recommendation Staff recommends that City Council approve the resolution for the sale of the property located at 734 Queens Court.
RESOLUTION AUTHORIZING SALE OF PROPERTY UTILIZING UPSET BID PROCESS
WHEREAS, the City of Gastonia owns certain property locally designated at Queens Court, Gastonia, NC 28052, and more particularly described as follows: BEING the full contents of Parcel 217958, Deed Book 4476 Page 1831Gaston County Registry. WHEREAS, North Carolina General Statute §160A-269 permits the city to sell property by upset bid, after receipt of an offer for the property; and WHEREAS, the city has received as offer to purchase the property described above in the amount of $2,517 submitted by; and WHEREAS, James Edmund Cuthbert is a qualified cash buyer with the required 5% deposit on his offer; THEREFORE, THE CITY COUNCIL ON THE CITY OF GASTONIA RESOLVES THAT: 1. That the City Council declares the property described above surplus and authorizes its sale through the upset bid procedure of North Carolina General Statute §160A-269. 2. A notice of the proposed sale shall be published which shall describe the property and the amount of the offer and shall state the terms under which the offer may be upset. 3. Any person may submit an upset bid to the office of the City Clerk within 10 days after the notice of sale is published. Once a qualifying higher bid has been received, that bid will become the new offer. 4. If a qualifying upset bid is received, a new notice of upset bid shall be published, and shall continue to do so until a 10-day period has passed without any qualifying upset bid having been received. At that time, the amount of the final high bid shall be reported to the council. 5. A qualifying higher bid is one that raises the existing offer by not less than ten percent (10%) of the first $1,000.00 of that offer and five percent (5%) of the remainder of the offer. 6. A qualifying higher bid must be accompanied by a deposit in the amount of five percent (5%) of the bid, which may be made by cash, cashier’s check or certified check. The city will return the deposit of any bid not accepted and will return the bid of an offer subject to upset if a qualifying higher bid is received. 7. The terms of the final sale are that the City Council must approve the final high offer before the sale is closed and the buyer must pay with cash at the time of closing. 8. The city 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 any time all bids. 9. If no qualifying bid is received after the initial public notice, the offer set forth above is hereby accepted. The appropriate city officials are authorized to execute the instruments necessary to convey the property to James Edmund Cuthbert This the __________ day of April, 2017.
_____________________________________ John D. Bridgeman, Mayor
_____________________________________ (Deputy) City Clerk
DATE:
April 4, 2017
TO:
Mayor and City Council
FROM:
Vincent C. Wong, Housing and Neighborhoods Administrator
THRU:
Michael Peoples, City Manager
SUBJECT:
RESOLUTION FOR OFFER TO PURCHASE; CITY OWNED PROPERTY (HOME) –734 QUEENS COURT, GASTONIA, NC 28052 - $2,517.00
At the March 21, 2017 Council approved the contract for the purchase of 734 Queens Court. The attached resolution was not attached to the contract and is required to be approved to move forward with the purchase.
Recommendation Staff recommends that City Council approve the resolution for the sale of the property located at 734 Queens Court.
RESOLUTION AUTHORIZING SALE OF PROPERTY UTILIZING UPSET BID PROCESS
WHEREAS, the City of Gastonia owns certain property locally designated at Queens Court, Gastonia, NC 28052, and more particularly described as follows: BEING the full contents of Parcel 217958, Deed Book 4476 Page 1831Gaston County Registry. WHEREAS, North Carolina General Statute §160A-269 permits the city to sell property by upset bid, after receipt of an offer for the property; and WHEREAS, the city has received as offer to purchase the property described above in the amount of $2,517 submitted by; and WHEREAS, James Edmund Cuthbert is a qualified cash buyer with the required 5% deposit on his offer; THEREFORE, THE CITY COUNCIL ON THE CITY OF GASTONIA RESOLVES THAT: 1. That the City Council declares the property described above surplus and authorizes its sale through the upset bid procedure of North Carolina General Statute §160A-269. 2. A notice of the proposed sale shall be published which shall describe the property and the amount of the offer and shall state the terms under which the offer may be upset. 3. Any person may submit an upset bid to the office of the City Clerk within 10 days after the notice of sale is published. Once a qualifying higher bid has been received, that bid will become the new offer. 4. If a qualifying upset bid is received, a new notice of upset bid shall be published, and shall continue to do so until a 10-day period has passed without any qualifying upset bid having been received. At that time, the amount of the final high bid shall be reported to the council. 5. A qualifying higher bid is one that raises the existing offer by not less than ten percent (10%) of the first $1,000.00 of that offer and five percent (5%) of the remainder of the offer. 6. A qualifying higher bid must be accompanied by a deposit in the amount of five percent (5%) of the bid, which may be made by cash, cashier’s check or certified check. The city will return the deposit of any bid not accepted and will return the bid of an offer subject to upset if a qualifying higher bid is received. 7. The terms of the final sale are that the City Council must approve the final high offer before the sale is closed and the buyer must pay with cash at the time of closing. 8. The city 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 any time all bids. 9. If no qualifying bid is received after the initial public notice, the offer set forth above is hereby accepted. The appropriate city officials are authorized to execute the instruments necessary to convey the property to James Edmund Cuthbert This the __________ day of April, 2017.
_____________________________________ John D. Bridgeman, Mayor
_____________________________________ (Deputy) City Clerk
