The Forsyth County Board of Commissioners approved a resolution Thursday to buy back 14.5 acres in Tanglewood Business Park off Idols Road from Beaufurn LLC.
The resolution also terminates an incentive agreement the county has with Beaufurn.
The county will pay Beaufurn, a commercial furniture manufacturer in Advance, $399,500 for the property and about $110,000 for the company’s out-of-pocket costs, including legal and engineering fees.
Because the county was not able to construct a road that would give the company access to its lot by the end of this year and connect the site to a sewer system by the end of 2020, Beaufurn exercised its option in a repurchase agreement it had with the county.
Forsyth County Manager Dudley Watts said in an interview that county officials are sad about the situation.
“The board really worked hard to accommodate Beaufurn and to recruit them. We think they’re a great company,” Watts said. “We think it’s got a great corporate culture. We think they would be great for that business park.”
But Watts said that “the barriers placed upon us by the Village of Clemmons’ leadership made it impossible to meet” Beaufurn’s deadline.
The county can use Tanglewood Park project funds to repurchase Beaufurn’s property, he said.
He also said that the county put the repurchase agreement language in its agreement with Beaufurn because there were a lot of unknowns.
“They knew it,” Watts said of Beaufurn.
He added that the money to put Beaufurn into the park was more than what the county had available.
“We had budgeted some of it, but we didn’t budget all (of it),” he said. “Now, we don’t have to do anything to get Beaufurn in.”
Forsyth County plans to move forward with the business park.
It has started construction on the Idols Road Sewer Lift Station, which is expected to be completed in mid-2020, with the goal of having the ability to provide sewer to the 170-acre business park.
“This will give us time to regroup and to get the park more fully developed before we sell the next property,” Watts said.
In other business, the board of commissioners approved a resolution that authorizes contracts with Winston-Salem Business Inc. and the Greater Winston-Salem Chamber of Commerce for the first six months of fiscal year 2019-2020 in the amount of $50,000 each for the agencies to provide business recruitment, retention and expansion services.
The board also approved the sale of 1.4 acres at 121 N. Church St. for $1.2 million from WFC Property LLC.