05/02/14 — Little Bank granted extension

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Little Bank granted extension

By Matt Caulder
Published in News on May 2, 2014 1:46 PM

The city of Goldsboro has granted the Little Bank an extension on its lease agreement for the purchase of the former Arts Council property at the corner of Ash Street and Spence Avenue.

The Little Bank agreed to pay $700,000 for the property in October 2013.

Goldsboro Finance Director Kaye Scott said the bank requested the contract date be extended to June 13, ahead of the April 30 deadline.

The request came via a letter from the bank's attorney April 15 and was approved April 22.

"I understand they just need a little more time to get everything in line for the sale," Mrs. Scott said.

Representatives of The Little Bank have not submitted any site plans with the city or announced any plans for the property to date.

The bank paid $35,000 at the beginning of the contract and will pay the remaining $665,000 when the contract closes in June.

Mrs. Scott said she does not expect the bank to request another extension.