Title
Resolution Authorizing the Town Manager to Purchase Property
PURPOSE: The purpose of this item is to authorize the Town Manager to enter into an agreement to purchase real property in Carrboro.
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Department
DEPARTMENT: Economic Development
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Information
INFORMATION: Background. The Town Manager received a letter on March 3, 2026, offering to sell the real property at 303 West Weaver Street to the Town. The Town has leased this property for over 20 years as public parking for downtown. Upon expressed interest in purchasing the property from the Town Council, the Manager made an offer to purchase the property for $884,000 pending appropriate due diligence.
Findings. The Town conducted an analysis of Sandborn maps to determine if an environmental assessment would be necessary. No principle structures had ever been constructed on the property and the property has been residential in use, indicating an environmental assessment would not be necessary. A survey of the property was completed with no encroachments or easements found. Title research was also completed with no significant discrepancies (the property has been owned by Ms. Weaver since the 1960s).
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Fiscal and Staff Impact
FISCAL IMPACT: The purchase of this property will cost $884,000.
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Recommendation
RECOMMENDATION: Staff recommend approval of the resolution.
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