Mayor: Developers interested in Project 336 land west of the city

Rocky Mount Mayor Sandy Roberson said recently that the city is looking at four or five letters of intent from various developers who have pitched an intent or a desire to acquire and develop municipally owned land southwest of the Interstate 95 interchange for U.S. 64.

“It ranges from everything from data centers to mixed use,” Roberson said in a phone interview Tuesday of the types of interest in the land.

Generally, a letter of intent outlines the initial terms and conditions that parties agree upon before finalizing a detailed contract in a business transaction.

According to Roberson, the City Council reviewed those details in closed session and deputized Rocky Mount City Manager Elton Daniels to be able to go forward and negotiate with those who have made pitches to see whether the city can get the highest and best price.

Roberson said that the next step is going to be to reconvene and decide who the city is going to partner with going forward.

“That is in process,” Roberson said. “It is in work. There is still a robust amount of energy and excitement about folks who want to develop that property. So, I’m feeling very good about that.”

Of the interest, Roberson said that, “I can say without question every single one of them are at a much higher strike price — in other words, an offer price that is higher than what our cost basis is in the property.”

Roberson also made clear that, “It’s less about that for us than to make sure it gets developed the right way” and with the right kind of tax revenue.

Roberson was referring to 336 acres of land off North Old Carriage Road and across from the front entrance to Nash Community College.