Description
This municipal contract concerns the sale of approximately 17,780 sq ft of City‑owned land located at 908 & 922 N Front St., Wilmington, NC. The City has an existing offer of $1,157,000 and is inviting “upset” bids that must exceed the baseline offer by a statutory increment (minimum $100 plus 5 % of the amount above $1,000). Bids must be sealed, include a 5 % deposit, and be delivered in person to the City Clerk by the deadline. The highest qualifying bid, if any, will be reviewed and must be approved by City Council within 45 days; thereafter a purchase‑sale contract is executed and must close within 30 days of its effective date. The sale is “as‑is” with no warranties, and the buyer must obtain a survey and may need to conduct environmental assessments at its own expense.