Old WHS, public hearings on county agenda
by Kellen Moore
The board considered two offers at their last board meeting: a $15 million offer from Campus Crest Development and its agent, Rick Miller, and a $15.5 million offer from Place Acquisition and its agent, Tim Hagaman.
The county accepted neither and asked that both developers work with the county attorney to formulize offers that were at or above $16.5 million and met other criteria the county required.
Both bidders were asked to submit their new contracts without the offer prices, which will not be revealed until closer to the meeting to prevent other bidders from besting those numbers at the last minute.
The board could decide to accept, counter or reject either offer. If it accepts, the buyer would have to deposit 5 percent of the purchase amount. It would also trigger a 10-day upset bid process in which another bidder could raise the bid. That bid would have to be at least 10 percent of the first $1,000 and 5 percent of the remainder.
The county also will need to determine how it wants to handle the commission it will pay to the successful realtor(s) that bring offers. The county originally planned to offer a 5 percent commission.
The revised Campus Crest offer still requests a 10 percent commission, while the revised Place Acquisition offer cut its requested commission from 6 percent to 5 percent, according to the board meeting packet.
Tuesday’s meeting also includes two public hearings and a public comment section. The public hearings will accept comment on an application for Community Development Block Grant funding for housing rehabilitation, as well as proposed amendments to the Valle Crucis Historic District ordinance. The ordinance amendments deal primarily with outdoor sign lighting options.
A third public comment section will allow feedback on a request to rename a portion of N.C. 194 in Valle Crucis posthumously for Ed Yates.
The meeting begins at 5:30 p.m. Tuesday at the Watauga County Administration Building, located at 814 W. King St.