Holmes Development Commission obtains Holmes Manufacturing property

BONIFAY – The Holmes County Development Commission has a new piece of property. HCDC purchased the former Holmes Manufacturing property just off Interstate 10 at a courthouse auction Thursday morning.

Development Commission Executive Director Jim Brook made the announcement Friday morning.

“I am pleased to inform you that we were successful in our bid to purchase the Holmes Manufacturing building,” Brook said. “We were high bid at $425,000 for the 37,000-square feet facility located on 9.44 acres adjacent to Interstate 10 in Bonifay.”

Total sale was for $431,382.50 including circuit court registry fees. “We received a certificate of sale but, per the clerk’s office, we will wait for a 10-day period before receiving title,” Brook said. The 10-day period is provided by law to allow any formal protests to the sale, and the Commission would take possession once it receives title.

The building was originally manufactured in 1995 to manufacture knuckleboom loaders. It has approximately 34,500-square feet of manufacturing space and 2,800 square feet of office space. The facility was built for an estimated $480,000 and has 30-foot tall eaves, two 10-ton cranes and a 20-ton crane.

The judgment outstanding was for $1.437 million and was held by U.S. Bank National Association, as trustee of the Lehman Brothers against Holmes Manufacturing, Greencore Earth Products, Inc., and Robert H. Holmes, III as defendants. Greencore was planning to occupy the building but negotiations with Holmes Manufacturing fell through.

The principal balance was for $1.185 million and assessed value of the property is $1.147 million according to ciurt documents.

Commission Chairman Gary Deal said that the Commission debated over three meetings about the purchase after they saw the notice in the Holmes County Times-Advertiser. The vote to bid was unanimous, Deal said.

“We really feel that we made a good deal and we have a property to market for economic development in Holmes County,” Deal said.

The Commission was formed by an act of the Florida Legislature in 1957. Members are appointed by the Holmes County Board of County Commissioners.