The Fred’s store property in Carthage has a new life as a parking lot. One of the issues facing the county in building the new courthouse is a lack of parking.
Current proposals call for the closing of Dowd street, which will reduce available parking in and around the courthouse.
Moore County Manager Wayne Vest told the commissioners Tuesday, “Parking is at a premium in downtown Carthage.”
The Fred’s location closed earlier as Fred’s shuttered 129 stores nationwide in an attempt to avoid bankruptcy. Ultimately, Fred’s filed for Chapter 11 bankruptcy in October and closed their 80 remaining locations.
The county approached the property owner, who had the property listed just under $1.3 million. The county secured an appraisal valuing the property at $1.1 million. After negotiations with the seller, they met in the middle, with a final selling price of $1,181,500. The closing date is set for late December.
The county will do their due diligence prior to the closing to include inspections of the buildings and conducting environmental studies. If problems are discovered, the county will have the option to renegotiate the price or to walk away with no further obligation.
Vest told the commissioners before requesting final approval that this is “the best opportunity to address the parking issues.” The board approved the purchase unanimously.
The next regularly scheduled Board of Commissioners meeting is December 9, with a work session scheduled for December 2.
~Written by Local News/Government Reporter Chris Prentice.
Contact him at email@example.com or (910) 639-9303.