THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Sunday, October 30, 1994 TAG: 9410300090
SECTION: LOCAL PAGE: B4 EDITION: FINAL
SOURCE: BY ANNE SAITA, STAFF WRITER
DATELINE: COROLLA, N.C. LENGTH: Medium: 67 lines
The Currituck County Board of Commissioners plans to submit a sealed bid to buy 10.4 acres of land at the main entrance of the county-owned historic Whalehead Club in Corolla.
In a special executive session Friday evening, the five-member board voted 3-to-2 to submit an undisclosed bid to the Federal Deposit Insurance Corporation, which assumed the property when the previous owners went bankrupt.
Two years ago, the county bought the copper-roofed hunt club and surrounding 27.5-acre site on Currituck Sound for $2.4 million, less than the appraised value of the land alone.
But it did not purchase the 10acres of land at the entranceway on N.C. Route 12, believing the price of that property was too high at the time.
Recently the FDIC notified prospective buyers, including Currituck County officials, that the property was for sale. The deadline for sealed bids is Tuesday.
The highest bidder is expected to be announced within the next couple of weeks, B.U. Evans III, chairman of the board, said Saturday afternoon.
If the board's offer is accepted, the county must disclose the amount it plans to pay for the tract and will proceed with closing on the deal, Evans said.
It also means Currituck County will own almost all the land on the Corolla compound between Currituck Sound and N.C. 12.
``We just decided that if we were going to try to buy that property, this was the time to do it,'' Evans said. ``Because if somebody else ever gets it, it is unlikely we'd ever be able to make the purchase.''
Evans said the board also is concerned the property may be purchased by commercial developers who may want to build a shopping center. ``We would just rather have it remain open space,'' he said.
The once luxurious lodge was among the most exquisite of its time, fashioned after mansions in Newport, R.I., and long considered the ``jewel in the crown'' of the Outer Banks. In recent decades, the manor has suffered from lack of use.
A $3-million-to-$5-million restoration project is under way, funded by private donations and proceeds from $3 tours. Eventually it will house a wildlife museum.
Commissioner Jerry Wright made the motion Friday to submit a bid, which was supported by Janie Askew and Evans. Commissioners Gene Gregory and Ernie Bowden cast dissenting votes.
Only Evans could be reached by telephone Saturday to comment.
Currituck County officials borrowed more than $2 million in 1992 to purchase the property, which, with an annual debt payment of almost $600,000, should be paid off in five years with revenue from an occupancy tax on Outer Banks resort rentals.
The latest real estate acquisition, if accepted, also would be paid for with the tourist tax, Evans said.
The 1992 deal included the 20,000-square-foot, three-story Whalehead Club, a boathouse and foot bridge, all of which are on the National Register of Historic Places.
At the time, the purchase drew sharp criticism from some mainland residents, who believed the tourism-related money could be better used to create more easily accessible parks within the rural county.
The mansion was built in the 1920s by railroad industrialist and newspaper tycoon Edward Knight when other area hunting lodges refused to admit his wife, Amanda. by CNB