title
Resolution to Authorize Upset Bid Process for Two City-Owned Properties on Woods Avenue
body
Department:
Economic Development
Meeting Date:
3/18/2025
Contact Name:
Aubrey Parsley
Public Hearing:
Yes
Contact Phone:
910-341-0188
Advertising Date/Advertised By:
3/25/25
Attachments:
Attachment #1: Resolution to Authorize Upset Bid
Attachment #2: Area Map Identifying Parcels
Attachment #3: City & County Agreement for Woods Ave. Dispositions
PURPOSE:
Attached for your consideration is a resolution to authorize the sale of real property co-owned by the City of Wilmington and New Hanover County, located at the eastern terminus of Woods Avenue, and most easily found by searching public records utilizing Parcel ID's R04814-005-009-000 and R04814-005-007-001 ("Property"), pursuant to N.C.G.S. ?160A-269, using the upset bid process.
BACKGROUND:
The Property was obtained by the City and New Hanover County jointly by way of tax foreclosures/collection proceedings in the 1980's. An adjacent owner approached both the City and the County with an interest in purchasing the Property. City staff has been in communication with County staff to facilitate the sale of the Property, after reviewing the Property's viability for use toward other City endeavors and finding none. By resolution passed on January 6, 2025, the New Hanover County Board of Commissioners: 1) authorized the conveyance of the Property; and 2) approved an agreement whereby the County conveys its interest to the City to facilitate the disposition of the Property.
If this resolution is approved, the County will convey its interest in the property to the City, and then the City will begin the upset bid process. Upon final sale of the Property, the City and the County will split the net proceeds based upon the percentage of ownership of each entity in the Property.
budget
BUDGET IMPACT:
Approximately $20,000 in revenue from sale proceeds.
recommendation
RECOMMENDATION / ACTION REQUESTED...
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