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Forsyth County weighs $4 million offer for 167-acre Tanglewood property as commissioners debate upset-bid route
Summary
County staff told commissioners they received a $4,000,000 offer from Williams Land Development Inc. for the 167-acre Tanglewood site; the proposal is contingent on rezoning for residential use and would trigger the county's negotiated offer/upset-bid process if the board approves advertisement. Commissioners raised traffic and valuation concerns.
County staff on Thursday told the Forsyth County Board of Commissioners that the county has received a $4,000,000 offer from Williams Land Development Incorporated to buy the 167-acre Tanglewood property.
Kirby Robinson, the county’s community economic development director, said the buyer offered the statutorily required 5% deposit and proposed a six-month due-diligence period that would make the purchase contingent on rezoning the site for residential use. "The purchase price was $4,000,000," Robinson said, adding that the proposed contract would include milestones around rezoning and due diligence.
Why it matters: the county has previously spent on site improvements — including a sewer lift station and access road — and staff’s broker opinion of value is roughly…
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