Wake County schools must now vote on $338,000 compromise
The Town of Matthews is moving forward with a 9.5-acre land purchase from Wake County schools, voting this week to buy the land for $338,000. The property, located on Rice Road, will be used to construct a neighborhood park if Wake County schools approve.
Earlier this month, Wake County schools rejected the town’s offer of $295,427 and countered at $338,000. The amount was a compromise between the two parties, representing the median between two appraisals done on the land. Matthews commissioners voted 6-1 Monday, Jan. 23, to accept the offer. Paul Bailey voted against the proposal.
Although Wake County schools extended the offer, the board of education still has to vote to officially approve the offer. The school board plans to vote on the matter at its first meeting in February, according to Annette Privette-Keller, Matthews spokeswoman.
The town’s original offer was under appraisal. Matthews Mayor Jim Taylor said the council wanted to begin with a lower offer to receive a counter offer at a better price. “We wanted to make the best business decision we could,” Taylor said.
The property once belonged to former state House Speaker Jim Black. In 2009, the land was transferred to the Wake County school system as part of Black’s sentencing for charges of bribery and obstruction of justice.
The Wake land is not the only property the town plans to purchase. A much smaller parcel of .85 acres, was offered to the town by private owner Grady Query. Taylor said Query is willing to sell the land at the appraised value of about $29,000.
The smaller parcel is adjacent to the Wake property. The town believes purchasing the land will add a bonus element to the park. “(The Query) property compliments the other piece to make a better park,” Taylor said.
To help with the cost of purchasing the land, the town is applying for a Parks and Recreation Trust Fund grant. The grant would cover half of the purchasing cost for both the Wake and Query properties. Taylor said the town feels confident that the application, due Jan. 31, will be approved and said the grant could be awarded in May.
“The town has been successful with these (grants) in the past,” he said.
The town plans to move forward with both purchases regardless of whether or not they receive the grant. Taylor said that, while the town has no plans to rush this purchase, it plans to “execute the transaction as soon as possible.”
Construction of the park is part of the town’s parks and recreation master plan.
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