Surplus Property is managed through Real Estate Services. Surplus properties are:
- Existing properties owned by The Wake County Board of Education that are no longer suitable for use as a school, or as an administrative or support facility.
- Properties gifted to The Wake County Board of Education that are not suitable for use as a school, or as an administrative or support facility.
- Acreage within a school site that is not needed or useable for the contemplated facility, or for which a school, administrative or support need or use is not reasonably foreseeable in the future.
Revenues generated by the sale of surplus properties are usually applied to retire existing school bond debt.
Identification and disposition
The process for disposition of surplus property is governed by North Carolina General Statutes and by the policies of The Wake County Board of Education and the Wake County Board of Commissioners:
- Real Estate Services analyzes real property holdings for potential surplus properties and reviews the findings with Wake County staff at least annually.
- Pursuant to staff presentation, The Wake County Board of Education reviews and approves a declaration of real property as surplus.
- Once declared to be surplus, properties are identified to Wake County staff, who research potential County or municipal needs for the real property,.
- Pursuant to Wake County staff presentation, the Wake County Board of Commissioners either elects to acquire the surplus property at fair market value, or declines acquisition.
- Once the Wake County Board of Commissioners declines acquisition, the surplus property can be sold to the public, according to the procedures prescribed by state law.
For additional information regarding the purchase of Surplus Property, contact Betty Parker, Director Real Estate Services, firstname.lastname@example.org.