HomeMy WebLinkAbout2024-04 RESOLUTION AUTHORIZING THE ACQUISTION, HOLDING, RESELLING OF LAND SUITABLE FOR INDUSTRIAL USE AND APPROVING A MOU AUTHORIZING THE PURCHASE OF LAND AND LEASE OF AN INDUSTRIAL SHELL BUILDING FOR ECONOMIC DEVELOPMENT PURPOSESH a r n ett RESOLUTION NO.2024-04
C 0 U N T Y
L NOR1N CAROHNA
RESOLUTION AUTHORIZING THE ACQUISITION, HOLDING, AND RESELLING OF
LAND SUITABLE FOR INDUSTRIAL USE AND APPROVING A MEMORANDUM OF
UNDERSTANDING AUTHORIZING THE PURCHASE OF LAND AND LEASE OF AN
INDUSTRIAL SHELL BUILDING FOR ECONOMIC DEVELOPMENT PURPOSES
WHEREAS, North Carolina General Statute § 158-7.1 authorizes a county to undertake an economic
development project to entice business and industry to locate within the county; and,
WHEREAS, notice of a public hearing was published in the Dunn Daily Record that the Harnett County
Board of Commissioners propose to participate in a 65 +/- acre economic development project through
the purchase of 51+/- acres of land from E.C. Edgerton, Jr., LLC, Arthur A. Little, C.L. Tart Jr., and Mary
T. Fowler for future industrial economic development and a lease of a newly constructed spec building
from Samet Properties, LLC, a North Carolina Limited Liability Company located in Greensboro, NC;
and,
WHEREAS, the project represents an investment by Samet Properties, LLC in the construction of a
162,000 +/- square foot building worth approximately $17,658,150.00 (seventeen million, six hundred
fifty-eight thousand, one hundred fifty dollars) near Dunn, Harnett County, NC; and,
WHEREAS, by entering into the Memorandum of Understanding, Harnett County commits to purchasing
51+/- acres of land for future development and undertaking the lease of said spec building after
construction, for up to twenty-four months, at a monthly rental rate not to exceed $117,120.00 per month
for the first twelve months for a total of $1,412,640.00, and with rent not to exceed $121,251.60 per
month, for months thirteen through twenty-four for a total of $1,455,019.20, up to twenty-four months
after the Shell Certification Date. In the event the building lease is terminated early due to the execution
of a sale or lease agreement for the entire building with an End User, the County's obligation to pay rent
under the building lease shall cease, and any rent prepaid shall be reimbursed to the County. In the event
a portion of the building is sold or leased by an End User, then the rent paid by the County shall be
recalculated based on its pro-rata share of square footage still leased by the County; and,
WHEREAS, by entering into a non -binding letter of intent ("LOI"), Harnett County approves the terms
of purchase as shown in the LOI and directs staff to move forward with a purchase and sale contract for
the purchase of 51+/-acres along Arrowhead Road, Dunn, NC; and,
WHEREAS, Samet Properties, LLC and County of Harnett commit to undertaking the activities described
in the Memorandum of Understanding to acquire land, construct, build, and finance a 162,000 +/- square
foot spec building and to market, conduct site visits, and hold events to entice new businesses and
industries to come to Harnett County and relocate or expand in Harnett County.
Harnett
COUNTY
NOR1N CARCHNA
NOW, THEREFORE, BE IT RESOLVED, by the Harnett County Board of Commissioners that
subsequent to a public hearing held on this date and after due consideration, the Board finds that the project
will increase the tax base, stimulate the local economy, create jobs, encourage business and industry
growth in the County; and,
BE IT FURTHER RESOLVED by the Harnett County Board of Commissioners that it hereby approves
the attached Memorandum of Understanding, approves the terms of purchase as shown in the LOI, directs
staff to move forward with the preparation and execution of a purchase and sale contract for the identified
parcel(s), close said purchase and sale contract, and authorizes the lease of the spec building for up to 24
months and authorizes the Chair or County Manager the authority to execute all documents pertaining to
this matter on the County's behalf.
Adopted this the 5 h day of February, 2024.
40,- b
William Morris, Chairman
Harnett County Board of Commissioners
Attest:
Meliss apps, Clerk to the oard of Commissioners