Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
County moves to sell part of former Mod‑U‑Kraf site to SiteReach LLC for $600,000
Summary
The Board authorized a purchase-and-sale agreement to sell a portion of the former Mod-U-Kraf industrial site to SiteReach LLC for $600,000, subject to asbestos verification up to $50,000 and other contract conditions; the sale would transfer several buildings and require a boundary line adjustment.
Franklin County staff presented a written offer from SiteReach LLC to buy a portion of the county’s former Mod‑U‑Kraf property in Rocky Mount for $600,000. The purchase-and-sale agreement presented to the Board specified that SiteReach would take the property in its current condition, with a contractual review of asbestos abatement and removal costs not to exceed $50,000.
Key deal points in the draft agreement include conveyance of several buildings (identified in the packet as Buildings 1, 2, 3 and 5) while the County would retain Building 4 for planned CTE programming. The sale requires a boundary line adjustment plat, coordination on utility separation and an optional assignment to an affiliated LLC by the purchaser. A performance agreement committing the buyer to certain investment and workforce/CTE supports will be signed prior to closing.
Why it matters: The transaction would return underutilized industrial property to private use, create private investment opportunities on a corridor near Summit View, and reduce County maintenance obligations on an aging manufacturing site.
What was decided: The Board authorized the County Administrator and County Attorney to finalize the purchase and sale agreement with SiteReach LLC subject to the contractual contingencies described in the packet.
Next steps: Staff will finalize boundary adjustments, verify asbestos abatement estimates, and complete the performance agreement prior to closing.
Provenance: Terms and exhibits were included in the packet and a draft purchase-and-sale agreement was provided for the Board’s review.
