Macon County approves sale of county property to Duotech and a $100,000 incentive

The Macon County Board of Commissioners voted unanimously March 25 to sell a county-owned property to Duotech for $797,720 and to approve a cash incentive agreement of up to $100,000 payable in $25,000 annual installments over five years.

Economic Development Director Tommy Jenkins opened the public hearing and described the proposal, saying the county would enter a purchase agreement if approved, with a scheduled closing within 90 days. Jenkins said the incentive agreement includes clawback clauses tied to performance measures and that the company — which he said was started in Macon County — would add approximately 95 jobs with an average salary of about $80,000. Jenkins characterized the project as “an $800 million investment,” a figure cited in the meeting transcript.

County Attorney Eric Ridenour told commissioners the purchaser must demolish the existing building and construct a new facility; if demolition does not occur within eight months of the sale, the county retains the right to buy the property back at the same amount. Finance Director Lori Carpenter said a budget amendment of $100,000 from the general fund balance is required to fund the incentive agreement.

With no members of the public signed up to speak, Commissioner Young moved to close the public hearing; Commissioner Antoine seconded and the motion passed unanimously. The board then approved the sale and the incentive agreement in separate unanimous votes.

The sale price the board approved matches the county tax value listed in the staff materials ($797,720); Jenkins noted the appraisal value was $740,000. The board did not ask for further documentation of the investment figure cited by staff during the hearing.

Next steps identified at the meeting: execute the purchase and incentive agreements and schedule closing within 90 days, subject to the agreement terms and performance requirements in the incentive contract.