A manufacturing startup proposing the purchase of a Gainesboro warehouse to launch a new business venture within the town.
Real estate agent and facilitator Kara Smith said the proposal involves the building currently referred to as the Gainesboro Warehouse.
“They have already looked at the building, but this is just an agreement to show the building,” Smith said, “That the, the interested parties have already looked at the building. There’s a lead-based paint disclosure. We know it was an old Oshkosh B’gosh building.”
Smith said the buyer requested a 90 day feasibility study. Attorney Kayla Cantrell said the Board of Aldermen must first declare the warehouse as surplus property before a sale can proceed. Cantrell said the town charter authorizes the mayor to sign the necessary documents for the sale once the board provides official approval.
Mayor Lloyd Williams said the town would need to find or build a new facility to house city equipment if the warehouse is sold. Lloyd said the building is currently used to store various items, and the city would need to ensure it has adequate space for its operations before finalizing a deal.
“Here’s the question I got with that, which I’m fine with selling it or whatever,” Williams said. “We would have to build us a new building, maybe an outbuilding or something. Is that surplus if we’re selling it, but still gotta do, have the same thing?”
Smith said the buyer is willing to negotiate shared access to the back parking lot to ensure city fire trucks can still maneuver. Smith said a survey will be required to resolve discrepancies between the current deed’s legal description and the property tax map.
Smith said the proposal includes a letter of intent detailing the planned use of the building to address any potential zoning concerns. Smith said the buyer intends to lease part of the building to another entity, and the letter outlines what they plan to use the space for.
Williams said the board will review the proposal and discuss the matter further during an upcoming work session.
