OTHERPENDING

Butner Town Council Meeting Agenda May 2026

Town Considers Five-Year Land Option with Tobacco Road Holdings

$100 plus the cost of pre-development due diligence investigations (initial phase estimated at $40,000)Town of ButnerTOBACCO ROAD HOLDINGS LLCMay 7, 2026

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Description

Butner Town Council will hold a public hearing to approve a five-year option to purchase 169 acres in the Butner Gateway from Tobacco Road Holdings, LLC, paying $100 plus an estimated $40,000 in initial due diligence costs. The agreement supports long-term economic development by enabling environmental, geotechnical, and planning studies toward state site certification.

Contract Details

Contract Amount

$100 plus the cost of pre-development due diligence investigations (initial phase estimated at $40,000)

Vendor

TOBACCO ROAD HOLDINGS LLC

Agency

Town of Butner, NC

Contract Type

OTHER

Document Date

May 7, 2026

Contract Term

Five-year option period to purchase three parcels totaling 169 acres

Renewal Info

Five-year option agreement for future purchase at fair market value, with potential additional due diligence phases subject to separate public hearings.

Issuing Agency