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Wake Forest schedules public notice for proposed land exchange with Southeastern Baptist Theological Seminary
Summary
The Town of Wake Forest voted to schedule a public notice for a proposed land exchange with Southeastern Baptist Theological Seminary that would swap 0.08 acres (valued at $670,000) for 1.0081 acres (valued at $790,000). The notice was posted in the News & Observer; the seminary is expected to present details at the next meeting.
The Town of Wake Forest approved a motion to schedule public notice for a proposed exchange of property with Southeastern Baptist Theological Seminary, town staff said during the meeting.
Allison (staff member) told the board the exchange would trade 0.08 acres valued at $670,000 for 1.0081 acres valued at $790,000. "That notice was posted today in the News and Observer," Allison said, and staff will return in two weeks with more detail and a representative from the seminary, Ryan Hutchinson, present for public questions.
The nut of the matter is that North Carolina law allows a local government to exchange property with a private party if the properties are found to be comparable; the posted notice is the first formal step in that statutorily required process. Allison explained the next steps: a presentation and opportunity for public comment at the next meeting and, if directed, further documentation and findings at a subsequent meeting.
A motion to approve scheduling of the public notice was made, seconded and approved unanimously. No ordinance or final exchange was approved at the meeting; the vote covered only scheduling the public notice required under state procedure.
What's next: staff said the seminary will provide additional details at the next meeting and that commissioners and residents will have the opportunity to ask questions before any final action is taken.
