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Commission OKs due-diligence funding for tax collector's proposed TD Bank building purchase
Summary
Columbia County commissioners authorized the tax collector to pursue due diligence on a proposed purchase of the former TD Bank building, approving up to $50,000 toward inspections and closing costs while the tax collector pursues financing and contract steps.
Columbia County commissioners voted to allow the tax collector to enter a 30-day due-diligence period for a proposed purchase of the former TD Bank building and approved up to $50,000 to cover inspections and closing costs.
The proposal, presented by Kyle (the tax collector), described a three-step process: a letter of intent/purchase-and-sale, a 30-day due-diligence window for inspections and contractor quotes, and a later final approval vote to complete the purchase. The stated purchase price is $800,000; county staff showed an $850,000 authorization in the packet to include estimated closing and inspection fees. Kyle emphasized commissioners were not buying or taking possession of the building tonight and said the property title would be in the tax collector's name, not the county's.
County legal/staff advisers explained the county's role would be limited to providing funding where appropriate; the tax collector would execute purchase documents and hold title. Staff said an interlocal or funding agreement would be drawn if the county commits money and that the county would not own or operate the building under the proposed structure.
Commissioners pressed for more detail on parking, renovation estimates and procurement controls. Kyle said an engineer reported the existing lot could support about 65 parking spaces; he provided a contractor's quote of roughly $125,000 for paving with fill and a rough $150,000 estimate when combined with engineering. He said the due-diligence period is intended to generate formal contractor quotes and inspections, and the purchase could be canceled without penalty if inspection results are unsatisfactory.
After discussion, a motion to approve proceeding with acquisition due diligence at the indicated terms (purchase price authority and $50,000 toward inspections/closing costs) passed by voice vote.
Next steps: county staff will work with the tax collector to draft the procurement/funding paperwork and return to the commission with final renovation/parking numbers and any interlocal/funding agreement for formal approval.
