Teramore land deal is official

Published 10:51 pm Wednesday, August 26, 2015

MOULTRIE — Teramore Development of Thomasville handed Colquitt County Commission a check for $2.6 million on Wednesday morning, officially acquiring the 12.88 acres that would become a Publix shopping center.

On Tuesday evening, County Commission approved a resolution giving its chairman Terry Clark authority to sign all closing documents.

Teramore officials declined comment because the matter is still under the shadow of a lawsuit.

After carefully considering all options, the Board of Commissioners believe that moving forward with this development project is in the best interests of Colquitt County and its citizens. After sustaining two consecutive years of negative growth in the county tax digest, the board is confident that the construction of a nationally recognized grocery store like Publix will bring much-needed jobs and future opportunities for positive growth in Colquitt County,” the commission said in a joint statement Wednesday.  

Meanwhile, a hearing has been set for 9:30 a.m. Oct. 8 in the County Annex for the plaintiffs to state their case.

Email newsletter signup

Litigants claim that a county land bidding process was illegal and asked a Colquitt County Superior Court judge to quash the sale of the property at Veterans Parkway and Highway 37 East. A writ of mandamus was filed Thursday, Aug. 6, in Colquitt County Superior Court.

Northlake Development LLC and W. Lynn Lasseter have sued Colquitt County Commission and its seven board members individually in an attempt to halt the land deal with Teramore Development LLC of Thomasville, which plans to develop this site. The Moultrie-Colquitt County Economic Development Authority also is named in the lawsuit. 

The property in question, if Teramore’s plans come to fruition, would be the site of a Publix super market complex with additional stores coming into the complex with the food chain giant. 

The lawsuit claims that the bidding process was flawed and that a subsequent action by the county to deed additional land to the development authority that will in turn be given to Teramore also is a violation of Georgia law.

The plaintiffs  had filed a petition asking a judge to declare the sale of the property null and void. It also asks the court to declare the deed of the additional 1.29 acres to the development as a private gratuity that violates Georgia law. In addition, the plaintiffs asked the court to force the county to rebid the property.

The commission awarded the sale of the 12.88 acres of land to Teramore Development of Thomasville on July 28, 2014. Teramore offered $2.67 million, or $207,211 per acre, for the parcel.

Northlake /Wilwat Properties, the only other company to take part in a second bidding process, tendered an offer of $2.34 million, or $182,080 per acre. Northlake waited about a year to make its challenge.

Wilwat Properties, an Atlanta company that was working with Northlake to purchase the land, is not a party to the lawsuit.

Earlier, The Moultrie Observer earlier reported that in the initial bidding, Northlake was the higher bidder. However, the bid per acre was exactly the same as Teramore, $150,000 per acre, but the exact acreage had not been determined at that time. After the first bids were rejected, County Commission had the property surveyed and the number of acres came in a couple of acres less than what originally was estimated. 

The suit was filed after the development authority confirmed in June that it would serve as a conduit for an additional 1.29 acres of land at the proposed grocery store site. 

The authority took possession of the land with the understanding that it would transfer the land at no cost to Teramore after the company said it had determined the potential tenant needed additional land to make the proposal work. That process was necessary because the county cannot transfer land but development authorities are allowed to do so to promote economic development. The 1.29 acres initially had been road right of way.

The first legal action came when plaintiffs asked for an injunction on the project. A hearing was set in that regard but the plaintiffs did not show up so there has been no court-ordered injunction. 

It was reported that other developers have voiced an interest in other nearby out-parcels if the Publix project comes through.