Commissioners have scheduled a hearing Monday so the public can weigh in on a proposed land sale of 14.5 acres to a full-service equipment and tractor dealership operating in Rowan County since 1996.
It’s called “Project Buck.”
James River Equipment, presently located at 805 Klumac Road, is looking to buy the land in and adjacent to Summit Corporate Center, which will offer higher visibility in addition to a higher traffic count for the business.
While the county owns about 13.73 acres of the land, the Rowan County Fair Association owns the remaining .77 acres.
James River Equipment is offering $485,750, or about $33,500 per acre, for the land.
If the county approves the sale, the business will build a new facility there estimated to cover between 12,000 square feet and 14,000 square feet.
James River Equipment employs 25 people and plans to invest about $1.5 million through the proposed facility.
“There is always a public hearing when county property is sold. You’re asking citizens to give up something they own, and we don’t have the authority sell county property whenever we want,” said Craig Pierce, vice-chair of the Rowan County Board of Commissioners.
James River Equipment also agreed, Pierce said, not to disturb a graveyard on the property as well as build a fence around it.
“We feel this sale of property is good for the county. You have the agriculture extension center behind it and the fairgrounds in front of it,” Pierce said. “It’s just natural that there is a agriculture business located there. They will get greater visibility and there will be an increase in tax revenue because we are hoping they will sell more equipment. The money being paid for the property will go into the fund balance.”
The deal is a win-win for James River Equipment and Rowan County, Pierce said.
“This is a great thing. We’re finally seeing some prosperity for the county for all the groundwork that has been laid. They have also agreed to let the fairgrounds use a good portion of the land for parking,” Pierce said. “They are working with the fair association to make this an easy transition.”
Like West End Plaza, Pierce said “Project Buck” is another example of the county looking into the future and making an investment in something that doesn’t necessarily produce immediate, visible returns.
According to an economic impact summary regarding the project, RowanWorks Executive Director Robert Van Geons said the county’s nonresidential tax base will be expanded if commissioners approve the sale.
“We have expended substantial efforts to gather as much information as possible regarding the potential impacts this project could have on our county and its citizens,” Van Geons wrote.
The county would collect $485,750 in revenue for the sale of the land, and the facility would generate $9,338 annually for the county.
The economic impact summary also indicates the South Salisbury Fire District would collect approximately $1,163 every year if James River Equipment is approved to buy the site.
“This project appears to have a lengthy list of positive attributes and no apparent liabilities,” Van Geons wrote. “This expansion should generate approximately $93,375 in new revenue for Rowan County over a ten-year period. The company also will generate hundreds of thousands of dollars in sales tax revenue for our community.”
According to the summary, the county could buy the land back if James River Equipment “fails to start the project in a timely manner.”
“We have the opportunity to actively support an existing Rowan County company that serves an important need in our community as well as reduce the county’s excess land inventory,” Van Geons wrote. “If approved, news of this project will resonate positively with companies connected to James River Equipment, both locally and beyond. Highlighting successful public-private partnerships, especially in these difficult economic times, will increase Rowan County’s reputation as a business-friendly community.”