As of June 29, the Higdon property belongs to Macon County after the $1.35 million sale closed.
County attorney Eric Ridenour said the county had closed on the property immediately after the final documents, including settlement details, were finalized.
The purchase is for two tracts from the Higdon Family Remainderman Trust and the William L. Higdon Revocable Trust, each of which owned one of the two parcels. Successor trustee Brigitte J. Higdon of Birmingham, Alabama, manages both trusts. Combined, the two Wayah Street tracts total just under 13 acres.
The sale was for $1.35 million, plus $6,085.50 in settlement fees and $2,500 to reimburse the seller for a fuel tank removal, bringing the total to $1,358,585.50.
The June 29 settlement was for $1,241,819.11, as $100,000 in a deposit and $10,000 in due diligence had already been paid and accounted for $3,330.23 in city/town taxes and $3,436.16 in county taxes, both for the previous six months.
The sale includes the amendment that the seller has 60 days after June 29 to remove lumber from the barn on the property.
On June 13, the commissioners voted to approve an interlocal agreement that will lease the Higdon property to Macon County Schools upon closing of the property. There is no dollar amount listed on the lease, with the stipulations that the school system is responsible for all maintenance and upkeep of the property and that “the parties agree to work together in good faith and with the consultation of LS3P, the parties’ architect for the Franklin High School project, to determine the school programming to be provided on the Higdon property.”
On April 11, the commissioners approved entering a due diligence period, starting the purchasing process. The public approval came a week after that 60-day period had started on April 4. During the closed session at the March 14 commissioners meeting, the board directed staff to begin pursuing the Higdon property.