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Originally published: 2013-05-06 13:47:03
Last modified: 2013-05-06 13:47:02

Templeton seeks extension on WHS deal

Templeton Properties has requested a 60-day extension on the inspection period for the former Watauga High School property.

Attorney Allen Moseley is expected to make the request on behalf of Templeton Properties at Tuesday's Board of Commissioners meeting.

The contract, approved by the board in November, allows for such an extension.

The 60-day extension would move the end of the due diligence period from May 12 to July 11.

Moseley requested the extension in a letter to Chairman Nathan Miller on April 17, according to the board packet.

"Until the outcome of the ongoing discussions between the Watauga County commissioners and the Boone Town Council is finally known, Templeton cannot realistically move forward with a development plan for the property," Moseley wrote. "While we continue to believe that the original plans for the property will result in its highest and best use, Mr. Templeton is also exploring alternative uses for the property which may have some merit, and accordingly he is requesting the extension in good faith with the hope that he may be able to purchase the property."

Just nine days prior to that letter, Phil Templeton wrote in an open letter to commissioners that he intended to withdraw his $18.9 million offer before the end of the inspection period due to changes in Boone's multi-family housing standards.