Brentmoor-Mosby House

Public Hearing – Proposed Sale &

Purchase Agreement
May 8, 2018
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 Presentation Outline

Town Ownership History

Current Purchase Offer
Recommendation

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 Brief History Of Town’s Ownership

 1998: Group of citizens including reps of Partnership,

Chamber & Jail Museum approached Town about
purchasing the Brentmoor-Mosby House and property
to be renovated as a historical museum
 1999: Following Public Hearing, Council approved the
purchase for $460,000 for house and ~3 acres
 1999: J.S. Mosby Museum Foundation formed
 1999: Council approved rezoning to PSP, and SUP for
Visitor Center to be built on the property

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 History (cont’d.)

 2000: DHR Easement

 2001 – 2008: Renovations to Brentmoor-Mosby House
to American Museum Association Standards and DHR
Easement Conditions
 2006: Visitor Center construction completion and
Opening
 2007: Harold Spencer death
 Dec. 2008: Completion of Brentmoor-Mosby House
Renovations
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 History (cont’d.)

 2009: Spencer Family lawsuit and settlement

 2012: DHR tax credit disbursement of $138,000 to
Gray Ghost LLC/Partnership for museum operations
 March 2013: Museum opens
 Nov. 2014: tax credit funds run out; Museum closes
 Sept. 2015: Community meeting on the future of
Brentmoor-Mosby House

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 History (cont’d.)
 Oct. 2015: Council appoints Task Force to study disposition
options
 March 2016: Task Force completes and presents Task Force
Report
 May 2016: TA and TM meeting with DHR on Easement
restrictions in re: future renovations and reuses
 Sept. 2016: TM memo on renovation cost estimates for
reusing Visitor Center and Brentmoor-Mosby House as
government offices
 Jan. 2017: Appraisal complete
 B-MH and 1 acre = $574,000
 VC and 2 acres = $605,000
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 History (cont’d.)

 April 2017: Council directs staff to focus on two

options
 Subdivision & Sale
 Management Agreement for museum operation

 July 2017: Staff analysis of annual “caretaker” costs

 August 2017: Decision to Market for Sale
 January 2018: Purchase Offer from Kirk & Rebecca
Goolsby

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 Current Purchase Offer
 Negotiated Sale Price: $425,000
 Subdivision of land: 1.379+ Acres
 Conveyance of specific contents
 SUP for Residential Use in PSP
 Confirmation of Driveway Easement
 Appraisal for financing improvements
 Verification of financing at $600,000
 Agreement to open house to public twice/year
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 Pros & Cons: Subdivision & Sale
Pros Cons

 savings of the annual operating expenses  loss of Town ownership of real

and future repair costs (est. $278,000) and property and future opportunity to
conversion costs to reuse as office space reuse the property
(est. $336,000 - $420,000)
 loss of control of a historic asset in
 cash recovery of most ($425,000)of the which private citizens and non-profit
initial investment ($460,000) entities have previously invested

 return of the property to taxable status  loss of potential economic benefit

and potentially to its original use as a from a tourist attraction and cultural
personal residence center

 the Town would cease to have fiduciary

responsibility or liability related to the
operation of a historical house museum

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 Recommendation

Following the Public Hearing, the recommendation

is to execute the Sale & Purchase Agreement for
sale of the proposed subdivided property to Kirk &
Rebecca Goolsby for $425,000 with conditions.
At 8:30am today, May 8, 2018, the Town received
a competitive purchase offer of $450,000 from the
entity Brentmoor Incorporated (President Birge S.
Watkins, Director Robert F. Dyer). Council may
wish to table action to consider both proposals.
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 Brentmoor-Mosby House
Public Hearing – Proposed Sale &
Purchase Agreement
May 8, 2018
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