NOTICE OF UPSET BID TO PURCHASE MUNICIPALLY OWNED REAL ...

NOTICE OF UPSET BID TO PURCHASE MUNICIPALLY OWNED REAL PROPERTY

The City of Gastonia has received an offer to purchase the following described parcel of land for the amount of $324,800.00 plus certain expenses of sale: Being locally known and designated 212 W. Main Avenue, Gastonia, North Carolina, having a tax identification number of 105883 and being more particularly described in that deed recorded in Deed Book 4499 at page 449 in the Office of the Register of Deeds for Gaston County, and also known as the historic Citizens National Bank building ("the Property"). This property is located in the Gastonia Downtown Redevelopment Area of the City of Gastonia. The City invites and will receive from any person for a period of ten (10) days after publication of this notice, qualifying upset bids for the purchase of the abovedescribed property. If a qualifying higher bid is received on or before the expiration of 10 days, that bid shall become the new bid and a new notice of upset shall be published. All upset bids must raise the original offer by not less than ten (10%) percent of the first One Thousand Dollars ($1,000.00) originally offered and five (5%) percent of the remainder. Any qualifying bidder must develop the property in accordance with certain terms and conditions as set forth by the City Council in the Redevelopment Contract between the City of Gastonia and CNB 1920 LLC, approved on November 21, 2017, a copy of which is available in the Office of the City Clerk, 181 S. South Street, Gastonia, NC 28052, and on the City's web site at . For further information on the applicable terms and conditions, please contact the Office of the City Attorney, 704-866-6735. All upset bids should be delivered or mailed to the Office of the City Clerk, City Hall, 181 South Street, P.O. Box 1748, Gastonia, North Carolina, 28053, and must be accompanied by a deposit in the amount of five (5%) percent of the amount bid in cash, cashier's check, certified check or bid bond and a Redevelopment Contract signed by the bidder with the same terms and conditions as set forth in the aforementioned Redevelopment Agreement approved by Council on November 21, 2017. The City of Gastonia reserves the right to reject any and all offers. The City Council acting as the Redevelopment Commission finds that the sale of the Property described herein will not be prejudicial to the sale of other parts of the Redevelopment Area, nor in any other way prejudicial to the realization of the Redevelopment Plan.

Publish one (1) time: November 25, 2017

Legal3595.docx

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