- By Todd Luck
- Posted Tuesday, September 7, 2021
Forsyth County has received offer to buy a 1.3 acre portion of 651 N. Highland Ave. property
Forsyth County Government has received a bid to purchase a 1.3 acre county-owned property at 651 N. Highland Avenue for $126,000 from the G.W. Holland Housing Corporation, who plans to develop it for low-income and veteran housing.
The property is open for upset bids until Sept. 14th. Forsyth County will require any winning bidder to use the property for low-income and veteran housing in a manner consistent with the East End Master Plan, and requires all bids to declare a proposed plan of use for the property when submitting a bid. Upset bids must increase the original bid by at least 10 percent of the first one thousand dollars and 5 percent of the remainder A 5 percent deposit, in the form of certified check, is required to place an upset bid.If the county commissioners receive an upset bid they wish to consider, then the upset bid process starts again. The county commissioners have the right to accept or reject any final bid.
If the property is sold, but not put to its declared use by December 31, 2024, the county will have the right to repurchase the property at its original purchase price, minus any costs to restore the property.