NOTICE OF PUBLIC HEARING TO APPROVE SALE OF CAMDEN COUNTY PROPERTY BY PRIVATE NEGOTIATION PURSUANT TO ECONOMIC DEVELOPMENT LAW

The Camden County Board of Commissioners will conduct a public hearing at 7:00 p.m., or as soon thereafter as practical, on October 5, 2020, at the Historic Courthouse to receive public input on a pending Resolution allowing the County to convey a fee simple interest in real property to Southeastern Equipment Corp., consisting of sixteen (16) acres more or less situate within the Camden Commerce Park, Camden, North Carolina. The value of the real property to be conveyed is fifteen thousand dollars ($15,000) per acre.  The proposed consideration will be twelve thousand dollars ($12,000) per acre for the real estate plus additional consideration in the form of infrastructure improvements and relocation of a primary business to the Commerce Park from Virginia, which will enhance the tax base, together with an obligation of a total investment by the Purchaser in the Commerce Park of approximately Nine Million Dollars ($9,000,000.00), within eighteen (18) months after acquisition which Nine Million Dollars ($9,000,000.00) represents the purchase price of the land, the construction of the building, and the placement of equipment thereon. It is also contemplated the business to be operated at the proposed acquisition site will create five (5) to eight (8) full-time jobs within an average annual compensation, excluding benefits, of at least Thirty-five Thousand Dollars ($35,000.00) and that such jobs shall be maintained for at least ten (10) years. The Board of Commissioners intends to approve this conveyance.  This Notice and the contemplated public hearing is in accord with N.C. General Statute 158-7.1 and N.C. General Statute 168-20.1.

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