2023 - 17 RESOLUTION - Authorizing the Sale of Property Located at 192 Tabitha Lane, Sanford, North Carolina - 5-19-2023

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FILED LEE COUNTY NC PAMELA G. BRITT REGISTER OF DEEDS FILED Jun 09, 2023 AT 03:07:37 pm BOOK 00003 START PAGE 0934 END PAGE 0937 INSTRUMENT # 03614 EXCISE TAX (None) EXHIBIT A s aw • RESOLUTION AUTHORIZING THE SALE OF PROPERTY LOCATED AT 192 TABITHA LANE, SANFORD, NORTH CAROLINA WHEREAS, the County of Lee ("County') owns a certain approximately twenty-one (21)acre parcel located at 192 Tabitha Lane. Lee County. North Carolina (the "Property"), as shown on a deed recorded in Deed Book 1546, Page 0455, in the office of the Register of Deeds for Lee County. to which reference is hereby made for a more complete legal description; WHEREAS, the Property was purchased by the County pursuant to an economic development incentive project known as Project Forge, later announced as Bharat Forge Aluminum USA, Inc.; WHEREAS, the economic development project was a joint venture between the County and the City of Sanford ("City"), by which the County purchased an approximately ninety-nine (99) acre tract of land located on Colon Road in Sanford. NC. The County retained the approximately twenty-one (2 1) acre Property; WHEREAS, pursuant to an lnterlocal Agreement entered into on or about October 1. 2019, the County contributed seven hundred thousand dollars($700,000.00)to the City for payment or reimbursement of site preparation including but not limited to acquisition of road right-of-way, clearing, grading, and preparation of a site pad. During site preparation, City representatives relocated soil materials from one area of the property to another. Encountering and staging these soils was outside of the scope of the Interlocal Agreement; WHEREAS, in order to settle a dispute between the County and the City relating to the actions referenced herein, both parties have agreed that the City will purchase the Property from the County in an "as is where is" condition for four hundred twenty-five thousand dollars ($425,000.00) pursuant to a mutual release of all claims and settlement agreement; WHEREAS, pursuant to North Carolina General Statutes §§ 153A-176 and 160A-274. local governments can convey property to other local governments by adopting a resolution agreeing to the conveyance: and WHEREAS, the County proposes to dispose of the Property as it is surplus to the County's needs and (lie City agrees to purchase the Property for the sum of four hundred twenty- five thousand dollars ($425.000.00). 1 of 2