Siler City to sell Carter Bank building

The building was deemed too expensive to adapt for town needs


SILER CITY – The board of commissioners is putting the former Carter Bank & Trust building up for sale.

The board made the decision to sell the building, located at 101 E. Raleigh Street, at its June 17 meeting.

It was purchased in March of 2023, for $100,000, with plans to utilize it as office space for administrative offices, but a report earlier this year revealed that it would cost around $600,000 to adapt the building for the town’s needs.

In response, the town is changing plans and is reacting to apparent interest in outside parties purchasing the building from the town.

“There’s some outside interest that’s been gaining a little momentum,” said Mayor Donald Matthews. “So, this is probably one of our better options.”

In other business, the board approved a change to the overtime/compensatory time pay provisions to offer employees non-exempt under the Fair Labor Standards Act a choice between accruing compensatory time off and being paid for overtime work.

The overtime/compensatory time pay provisions policy now reads as such:

The U.S. Department of Labor states that “under certain prescribed conditions, employees of state or local government agencies may receive compensatory time off, at a rate of not less than one and one-half for each overtime hour worked, instead of cash overtime pay. Non-exempt employees are given the option to accrue comp time or to be paid overtime payments within the same pay period earned.”

“The bottom line is we’re talking about non-exempt employees,” said Interim Acting Town Manager Jack Meadows. “We’re providing them the opportunity to choose whether they want comp time or covered time. That’s the big part. That and taking out some of the restrictions on deciding when people get overtime and comp time."

Employees will be able to choose for next year which compensation situation they prefer.

The board also approved 46 acres of property on Bish Road at the CAM site for the GGT Enterprises’ Project.

Per the Chatham County Economic Development Corporation, Project Ice involves the construction of a housing component manufacturing facility at the CAM site. The facility will require a capital investment of approximately $39.8 million and will create as many as 157 jobs over the next five years.

The Siler City Board of Commissioners will next meet July 15.