c100614 V BostClosed Session V (Bost) October 6, 2014
At 8:26 p.m., the Board, already in closed session on another matter, began closed session on
a different matter in order to instruct the public body's staff or negotiating agents concerning the
position to be taken by or on behalf of the public body in negotiating the price and other material
terms of a contract or proposed contract for the acquisition of real property by purchase, option,
exchange, or lease, pursuant to [N.C.G.S.143-318.11(a)(5)(i)]. Commissioners Holmes, Frye,
Kemp, Lanier and Haywood were present. Also present were County Manager Richard Wells; Will
Massie, Assistant County Manager/Finance Officer; County Attorney Ben Morgan; Aimee
Scotton, Associate County Attorney; Amanda Varner, Clerk to the Board; and Hal Johnson,
Planning Director.
County Manager Richard Wells informed the other Board members that he had talked with
the owner of the J.P. Bost Neckwear Company, Inc. building, located at 503 Industrial Park Ave.
and near the Randolph Community College campus, in regards to his interest in selling this
property. The approximately 7840 sq. ft. building is situated on 4.2 acres. The owner was offered
$800,000 for the property, but counter offered at $826,266. Mr. Wells said that he had spoken
to RCC's President, Dr. Bob Shackleford and Commissioner Kemp about the property and the
offer. Dr. Shackleford had said that the building could be up -fitted to house RCC's Cosmetology
Department that is currently operating off -campus in rented space at a cost of about $74,000/yr.
and that they were currently leasing the Bost property parking lot for $12,000/yr. at a total of
$87,000/yr.
Mr. Wells said that RCC is checking with the state on the possibility of financing this project
directly, but that it is not likely they will agree. Finance Officer Will Massie stated that the funds
can be used from the 1/4 cent sales tax proceeds for RCC as they have done for the purchase of
other campus property.
Following discussion, it was decided to set a public hearing and at 8:32 p.m., closed session
ended on this topic.
J. Harold Holmes, Chairman
Phil Kemp
Darrell L. Frye
Stan Haywood
Arnold Lanier Amanda Varner, Clerk to the Board