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Board approves private sale of downtown gravel lot, ties buyer to job and tenancy commitments
Summary
The Waxaw Board approved RES 202519 to sell a town‑owned 0.4‑acre gravel lot in downtown Waxaw to a private buyer under a negotiated sale with conditions to lease space to multiple businesses and to create 5–10 jobs; the sale includes a clawback provision if commitments are unmet.
The Waxaw Board of Commissioners voted July 8 to approve a private negotiated sale of a town‑owned gravel lot in downtown Waxaw (resolution RES 202519).
Cindy Reid outlined the sale process under North Carolina law and described the proposed buyer's commitments: the appraised value is $270,000, assessed value $251,600 and staff proposed a fair market sale price of $260,000. The buyer, George Johnson, agreed to market the renovated building to accommodate at least two separate business tenants and to create between five and ten new downtown jobs. A clawback provision in the purchase and sales agreement would allow the town to repurchase the property if the buyer fails to meet those commitments.
Council discussion focused on parking implications, block footprint and design details; staff said the buyer had discussed parking realignments and was considering a roughly 3,400‑square‑foot building fronting Church Street with parking adjustments to maintain or possibly add spaces. Board members approved the resolution by voice vote.
The sale is conditioned on the negotiated sale terms and the town’s ability to enforce the clawback provision in the purchase and sales agreement if the buyer does not meet the stated tenant and job creation commitments.
What comes next: staff will finalize the purchase and sale documents and implement the documented conditions before closing.
