ROCKINGHAM — A downtown commercial property could return to the city’s tax books within the next year.
The former Food King property will be “conveyed by private negotiation” to WamPum Holdings, LLC — pending the company meets certain criteria — in order to “promote private investment and provide employment.”
The Rockingham City Council approved the conveyance following a public hearing at a meeting on Feb. 13.
“It’s been a long time coming,” said City Manager Monty Crump, who added that the conveyance is allowed under state statute for property and community development.
The city purchased the 20,000 square foot former grocery store building on the corner of East Washington and Randolph streets for $60,000 in 2018.
“The building was in a pretty significant state of disrepair when the city purchased it,” Crump said.
When plans were presented for the property in 2021, Assistant City Manager John Massey said the estimated cost of repairs and upfitting would be $2.5-3 million.
At that time, the city had intended to own the building and lease out the spaces.
The city received more than $1 million to help with renovation costs, including $300,000 from the state budget and a $750,000 grant from the N.C. Department of Commerce Rural Economic Division.
Repairs have included a new roof, new floor, HAZMAT clean-up, as well as improvements to the parking lot and sidewalk, Crump said. The flooring contract was awarded to Rockingham-based Southern Builders.
According to the conditions of the conveyance, WamPum Holdings will have to spend at least $1.1 million in improvements — which is the estimated fair market value of the property.
WamPum will also have to “provide for the employment” of 10-15 people (who will work in the businesses occupying the tenant spaces) who will be paid at or above Richmond County’s median wage. According to the N.C. Department of Commerce, the estimated median worker income for the county (in 2019) is $26,169.
If WamPum fails to meet those requirements in five years, the property will revert back to the city.
Crump said the conveyance isn’t giving the property away, adding that the city will be able to recoup the value through employment and property taxes “and other considerations.”
The conveyance includes only the footprint of the building and the city will retain ownership of the sidewalk and parking lot, Crump said. He added that the action won’t be finalized until renovations are complete.
Representing WamPum at the meeting were local businessmen Tim Hayden and Jody Williamson. According to records with the N.C. Secretary of State, WamPum Holdings was formed on Jan. 5 and Hayden is listed as the registered agent.
“We’re excited to be a part of it,” Hayden said.
Crump said the intent is to provide three retail spaces, one professional office space and room for a restaurant.
The project is expected to be complete by the end of the year.
“I think this is an amazing opportunity,” said Councilman Bennett Deane. “It’s something we’ve been working towards for a long time. Downtown’s been, obviously, a focus for the council for many years. A lot of things (have) happened downtown and this continues that positive trend …
“So excited that these local guys are jumping in, making an investment into our downtown and it’s exciting to see what they’re going to do … and continue what we’ve got going on.”
Following the vote, Mayor John Hutchinson said that the city has been involved in downtown revitalization since the opening of Discovery Place Kids-Rockingham in 2013.
Other city-involved endeavors in the past decade have included Hitchcock Place (which formerly housed Pattan’s Downtown Grille and is currently being remodeled for Hitchcock Pub and Grill), Simply Chic, IncSpace (which houses the Richmond Observer, Nana’s Coffee Rocks, Carolina Scoop, WAYN and the Richmond County Partnership for Children), and Richmond Community College’s downtown campus.
Hutchinson encouraged the council members — and anyone else listening — to look at a Google street view from 2008- 2010 compared to now.
“You can see a tremendous improvement and we’re excited that it’s continuing with y’all’s help,” Hutchinson said.
