text size: A A A

Another bid for raceway

Monday, December 21, 2009 3:00 AM | Printer friendly version | E-mail to a friend |

Staff report

A Kannapolis attorney has submitted the latest upset bid for High Rock Properties, the 200-acre site of a proposed world-class race course.

Reggie Smith, an attorney for an undisclosed client, filed a bid of $3,050 before the 5 p.m. Monday deadline passed.

The previous high bid was $2,300 from Donald Rand, a principle in Spinnaker Grading Co. Rand's company did grading on the site. Frank McGuire, whose family has controlling interest in High Rock Properties, has identified Rand as a partner in a new venture to build the track.

A Post report on Dec. 16 erroneously reported the bid had reached $3,100. It stood at $2,300 prior to the latest bid.

The current bid will stand if someone doesn't put in a bid with a 5 percent increase by 5 p.m. on Dec. 28.

The sale is being conducted under court order. Anthony M. Flores, a Greensboro veterinarian who put down a $25,000 deposit on club membership and the right to purchase a townhouse, went to court and obtained a judgment, when High Rock Properties refused to return his payment.

Whoever ends up with the winning bid will get 200 acres along the Yadkin River along with an estimated $4.5 million in liens and encumbrances.

If you would like to subscribe to the Salisbury Post, click here.

Comments

Notice about comments:

Salisburypost.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Salisburypost.com cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not Salisburypost.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website.
DO NOT POST:
* Potentially libelous statements or damaging innuendo.
* Obscene, explicit, or racist language.
* Personal attacks, insults or threats.
* The use of another person's real name to disguise your identity.
* Comments unrelated to the story.
Full terms and conditions can be read here

Salisbury Post is proud to offer our users enhanced commenting features. You can now build user-to-user connections, follow friend's recent posts, add an avatar that fits your personality, and more.