County approves sale of Granite Industrial Park parcel to Fortius Capital Partners

Rowan County commissioners on Aug. 18 approved the negotiated conveyance of roughly 22.94 acres in Granite Industrial Park to Fortius Capital Partners, a Concord-based developer, the county said.

County staff presented the offer and term sheet, saying Fortius will pay $466,416 (approximately $20,332 per acre) and pledge to begin construction within five years. The county’s tax value for the parcel was listed in the staff packet at $726,739. Under the purchase terms, a deferred portion of roughly $260,000 would be documented as seller financing and is tied to performance; staff said standard clawback provisions would require the county to buy the parcel back at the purchase price if Fortius fails to begin development within the agreed timeframe.

Scott (county representative) told commissioners staff estimates Fortius’ project could result in about $9 million in taxable improvements and roughly $522,000 in new county revenue over 10 years. "The company is offering $466,416 for the property," Scott said during his presentation.

No members of the public spoke during the public hearing. After brief discussion the board moved to approve the conveyance using the county’s economic development authority rather than the upset-bid process. The motion passed by voice vote.

County staff said the contract would include 9 months of due diligence (with an optional 6‑month extension for an additional earnest-money deposit) and closing within 45 days after due diligence. Commissioners and staff said the agreement will include clawback terms and language limiting additional incentive requests tied to this particular project.

Next steps include finalizing the purchase agreement and recording terms for seller financing and clawback provisions; staff will return to the county manager’s office and procurement team to complete the conveyance process.