The attorney representing Weldon Mills Properties, which presented a $1.5 million cash offer to buy the Roanoke Rapids Theater expressed disappointment in the panel’s proposed decision to accept an offer from a New Jersey LLC to buy the venue for $1.75 million.
In a letter dated Tuesday and sent to the city in care of its attorney Geoffrey Davis, William O. White Jr. wrote, “While my client is disappointed with the action taken at the special called meeting of the city council of Roanoke Rapids … we trust that this action will result in the best for our city.”
In concluding the letter White wrote, “So that there is no misunderstanding or confusion, my client has instructed me to inform the city of Roanoke Rapids that its proposal is withdrawn.”
On Monday the council on a 4-1 vote proposed to accept the $1.75 million offer submitted by The Victor Enterprises. Victor Freeman submitted the offer on Monday, the same day as the special called meeting.
Davis said the action taken by the council is a proposal to accept Freeman’s offer. “They cannot truly accept the offer until the upset bid period is completed. This is important to the analysis because, rather than the deposit amounts stated in their letter of intent, they must by law deposit with the city clerk 5 percent of their offer — as stated in North Carolina General Statute 160A-269. Once they do that, the initial upset bid period will begin.”
The action taken by the council Monday also canceled an online auction scheduled to begin Thursday morning and end on June 26 through the website GovDeals.
Councilman Wayne Smith voted against the motion, saying he wanted more time to study the last-minute offer and the company which submitted it. Carl Ferebee, Sandra Bryant, Tommy Daughtry and Rex Stainback voted in favor of the motion.
The city still has $7,638,760 in debt to pay on the venue.