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Commissions Derail Commissioners; Meeting Resumes This AM PDF Print
Written by Gary Childers/Steve Frank   
Wednesday, 17 October 2012 05:33

Watauga County Commissioners have one revised and one new offer for the old Watauga High campus, but commissions kept the Commissioners from reaching a conclusion at last night’s meeting.  So, officially, that meeting is still underway.  Actually, commissioners adjourned last night after over two hours of discussion of how to pay agents who brought the offers to the table, Commissioners Jim Deal and Nathan Miller differing on how to handle that matter, Deal wanting to do all the math, Miller satisfied with the most dollars on the table. Specifically, the offers on the table are a $17 million revised offer from Campus Crest Development and its agent, Rick Miller, and a $16.6 million offer from Sanctuary Management and its agent, John Howie, new to the issue. Campus Crest Development was asked to meet and revise the commission in their offer, and they returned, dropping the 10 percent commission to 7%. The Sanctuary Management offer included the 5 percent commission to be paid by the county as requested by the county. Company officials from the Georgia firm were not present at last night’s meeting. The commission issue does make a large difference in the math, as the county would net $15.81 million from the Campus Crest offer and $15.77 million from the Sanctuary Management offer—and with such a small separation in net funds to the county, commissioners decided to take the offers home for a night of study, Commissioner Deal berating Miller over not wanting to carefully review both offers. That meeting resumes at 7:30 this morning to take—or not take—one or any of the offers. Meanwhile, Place Acquisition, through agent Tim Hagaman, did not revise their $15.5 million bid, but may play a part in upset bidding as the process goes along.

 

 

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