CITY OF NORTH MYRTLE BEACH & HILLSIDE DEVELOPMENT, LLC SIGN CONTRACT FOR PURCHASE AND SALE OF LAND REGARDING INGRAM DUNES
North Myrtle Beach is a city along the Grand Strand that continues to impress.
Today, May 2, the City of North Myrtle Beach and Hillside Development, LLC signed a contract for the purchase and sale of 7.24 acres of the 9.35-acre site popularly known as Ingram Dunes.
The purchase price is $2.5 million, based on an appraisal ordered by the landowner. The family of Charles Ingram will contribute $1.4 million to the purchase and the City of North Myrtle Beach, using its $500,000 contribution, a $500,000 grant from the S.C. Conservation Bank, and donations from members of the public, will pay the remaining $1.1 million. A closing on the property will occur on or before June 21, 2019.
Originally, the City worked to obtain funding to buy the entire 9.35 acres but the effort did not succeed. The gap between the $3.1 million asking price, based on an appraisal ordered by the landowners, and available purchase money proved too significant.
The property owners and the City continued discussions and, a number of iterations later, the property owners of their own volition approached the City and offered to sell 7.24 acres of the property to the City, while subdividing the remaining 2.11 acres into seven lots to construct seven single-family houses along existing Strand Avenue. The family of Charles Ingram volunteered to contribute $1.4 million toward the purchase. The 7.24 acres includes the dunes.
Prior to agreeing to the purchase, the City sought approval from the S.C. Conservation Bank to allow the use of the original $510,000 grant in purchasing the 7.24-acre site. The Conservation Bank board met in a formal session to consider the City’s request and reduced the original grant amount to $500,000 for use in the purchase of the reduced acreage.
“We thank the board of directors of the S.C. Conservation Bank for having stayed the course with us as we moved toward this purchase,” said North Myrtle Beach Mayor Marilyn Hatley. “We thank Hillside Development for having worked to arrive at this offer, and we thank the family of Charles Ingram for having donated $1.4 million to make this purchase possible,” Mayor Hatley said. “They filled the funding gap, and it is important to remember this fact. The dunes and the many lovely trees will live on in Ingram Dunes Park to enchant future generations of residents and visitors.”
Special thanks are due the members of the Horry County Delegation, from the federal to the local levels; City Council members, all of whom reached out to explore all potential avenues for grant and other funding, including helping to secure S.C. Conservation Bank grant funding; and the members of the public who pursued and/or provided private donations.
A public ceremony including the members of the board of directors of the S.C. Conservation Bank and all others involved in the effort to purchase the land for Ingram Dunes Park will be held once the City can coordinate a date.
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