POMEROY — The Meigs County Board of Commissioners rejected all remaining bids which were submitted for the purchase of the former Mark Porter auto dealership and surrounding property during Thursday’s regular meeting.
The decision came during the board’s regular meeting on Thursday before entering into executive session for the proposed sale of property with Meigs County Economic Development Director Perry Varnadoe and Ted Dexter, who was one of the bidders on the property. Dexter owns Wheel and Deals auto dealership in Middleport, as well as Ted Dexter Trucking.
Following the 50 minute closed door session, Commissioners Tim Ihle and Jimmy Will stated the meeting would be in recess until 10 a.m. on Monday at which time the board could announce additional action regarding the property.
Ihle stated that they wanted to wait for the entire board to be present to make any additional decisions regarding the sale of the property or how things would proceed moving forward. Commissioner Randy Smith was absent from the meeting on Thursday as he was attending an out-of-county meeting on behalf of the commissioners.
A total of five bids were opened by the commissioners two week ago and sent to Varnadoe to review and to contact the bidders.
Bids were submitted as follows: Bid 1 — $720,001; Bid 2 — $781,001; Bid 3 — $660,001; Bid 4 — one year lease of $1,500 per month, with a $300,000 purchase option at the end of the one year, from Meigs Auto Service; Bid 5 — $586,000 from Ted Dexter.
Bidders 1, 2 and 3 remained silent on the name of the bidder, giving only an email address for the commissioners to contact regarding the bids.
The top bidder withdrew from consideration prior to the meeting on Jan. 30.
In rejecting the remaining bids Thursday, the commissioners noted that the bids received were deemed not to have met fair market value for the property.
Ihle said on Thursday that an appraisal completed in 2014 valued to property at $1,375,000. The commissioners paid $775,000 when purchasing the property. Since that time it was leased to Mark Porter on two occasions, with the lease price varying. Porter put more than $150,000 into renovation work at the building during that lease (post 2014 appraisal). The property has been vacant since Porter’s Chrysler Dodge Jeep Ram dealership opened at its new location last year.
The meeting will resume at 10 a.m. on Monday.
Sarah Hawley is the managing editor of The Daily Sentinel.