Another home sold

Resident’s offer approved on property refurbished with federal grant funds
Jul. 22, 2014 @ 12:32 PM

During a called meeting Monday, the Vance County Board of Commissioners approved an offer on property real estate agents said would be difficult to sell.

The board approved a contract with Iris D. Ferrell for a home located at 317 W. Rock Spring St. and an adjacent lot, 313 W. Rock Spring St., where another home currently standing will be demolished.

The board approved a $15,2000 bid for Faulkner Grading and Landscaping Inc. to demolish the lot, along with property located at 472 Cross St.

County attorney Jonathan Care said the county was able to use federal Neighborhood Stabilization Program funds to clear the properties because they were located near dwellings participating in the project.

He said real estate agents described the property on Rock Spring Street as a difficult sale because of its older floor plan and was pleased at the $59,000 offered for it.

“I think that’s very encouraging and great news for the NSP program,” he said.

This is the third offer of sale in the federal program, which started in Vance County in 2012.

It closed its first sale at 317 Yancey St. in June for $59,000.

Care said the county can expect to close on property located at 203 N. College St., currently under contract for $65,000, at the beginning of August.

He said the county will have to report to the North Carolina Department of Commerce in September, and he expects the state will give the board more time to sell remaining homes based on recent progress.

Eleven homes were originally listed in July 2012 but sat for about a year on the market with no buyers.

Care said the list prices were about $20,000 higher then they are now.

As the county reached its original deadline in January, the state wanted progress, and the county split the properties based on which were the most marketable. The other five were transferred to Franklin, Vance, Warren Opportunity last year to rent out.

Homes left to sell are located at 661 Charles St., 614 E. Andrews Ave. and 225 Hawkins St.

The board transferred approval power to the Planning Committee — composed of commissioners Tommy Hester, Terry Garrison and Dan Brummitt — on further matters regarding the sale of property in the Neighborhood Stabilization Program.

County Manager Jerry Asycue said the committee has managed the program since the start.


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