An offer of $ 650,000.00 cash has been submitted to the City of Southport for the purchase of certain real property owned by the City of Southport more particularly described as follows:

Parcel of approximately 2.5 acres bounded by Cottage Creek on the West, property of Admiral Holdings, LLC, and West West Street on the North, and property of Southport Marina, Inc., on the South and East. The property was formerly used as the City of Southport’s Wastewater Treatment Plant and is identified as Tax Parcel 237LF021.

This offer provides for a due diligence period of 150 days from the date of acceptance by the City, and closing within 30 days thereafter. In addition, the Offer provides that (i) the Buyer will dedicate a 10 foot public access easement to the City; (ii) the Buyer will dedicate .11 acres of upland to the City for a public access easement; and (iii) the Buyer will contribute 50% of the City’s cost in constructing a kayak/observation dock within the easement up to a total cost of $50,000.00. Copies of the offer may be obtained from the office of the City Clerk.

Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer to the office of the City Clerk, 1029 N. Howe Street, Southport, N. C., by 5:00 pm on February 18, 2019. At that time the City Clerk shall open the bids, if any, and the highest qualifying bid will become the new offer. If there is more than one bid in the highest amount, the first such bid received will become the new offer.

A qualifying bid is one that raises the existing offer to an amount not less than
$ 682,550.00.

A qualifying higher bid must be accompanied by a deposit in the amount of five percent
(5%) of the bid; the deposit may be made in cash, cashier’s check or certified check. The City will return the deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifying higher bid is received. The city will return the deposit of the final high bid at closing.

The buyer must pay cash at closing.

The Board of Aldermen must approve the final high offer before the sale is closed, which it will do within 30 days after the final upset bid period has passed. The City reserves the right to withdraw the property from sale at any time before the final high bid is accepted and the right to reject at any time all bids.

Further information may be obtained at the office of the City Clerk, 1029 N. Howe Street,
Southport, N. C. or at telephone number (910) 457-7925 during normal business hours.

Michele Windham
City Clerk, City of Southport