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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />JUNE 15 2015 <br />1 <br />�A CA1Lp 1�1�I <br />• P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Infrastructure and Asset Management - Offer for Purchase of Tax <br />Foreclosure Property <br />BRIEF SUMMARY: <br />Tax foreclosure parcels that are not purchased through the courthouse <br />auction have been sold using an online surplus property web service. One <br />particular parcel, located at 902 Buick Avenue in Kannapolis, has recently <br />received an offer to purchase independently of the web service for $3,500 <br />from Josh Collins at Journey Investment Group, LLC. The property was <br />most recently listed on the web service for a cost of $5,385.26 and was <br />taken off the site on May 22, 2015 after being listed for several weeks. <br />In total this parcel has spent just under 300 days of actual auction time on <br />the web service since it was initially posted on September 21, 2012. In <br />order to accept this offer to purchase it is required to go through the <br />standard upset bid process. The process for upset bids is attached (G.S. <br />160A -269) <br />REQUESTED ACTION: <br />Motion to accept the initial bid from Journey Investment Group, LLC and <br />commence the upset bid process. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Kyle D. Bilafer, Infrastructure and Asset Management Director <br />F -9 Page 122 <br />