MUNI-DETROIT COUNTYlocal legislationNew Business

Proposed Sale of City-Owned Property at 14610 Schaefer

Original title: Submitting reso. autho. sale to Luke’s Property Management, LLC of Real Property at 14610 Schaefer, Detroit, MI 48227. (The Planning and Development Department entered into a Purchase Agreement dated February 17, 2017 with the Offeror. Under the terms of a proposed Purchase Agreement, the Property would be conveyed to the Offeror by Quit Claim Deed (the “Deed”) for One Thousand and Five Hundred 00/100 Dollars ($1,500.00) (the “Purchase Price”). Offeror intends to improve the property into a storage facility for their property management business. The proposed use is a by-right use within the designated M2/Restricted Industrial zoning, as per Section 61-10-37 (28) of the Detroit Zoning Ordinance. Offeror shall, in addition, board up and /or secure the property within six (6) months of closing and apply for and obtain a Certificate of Occupancy for the property within twenty-four (24) months of closing, with a right of reverter, written into the Deed, to be exercised by P&DD in event of default.) (REFERRED TO THE PLANNING AND ECONOMIC DEVELOPMENT STANDING COMMITTEE ON 3-23-17)

March 23, 2017

real estate zoning economic development Detroit property management

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The Frame

What this does

This resolution authorizes the transfer of city-owned land to a private entity for $1,500, contingent upon the buyer meeting specific development and occupancy deadlines within 24 months.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Luke’s Property Management, LLC

They are the purchaser of the property and are subject to specific development and occupancy requirements.

Planning and Development Department

They are the city agency responsible for executing the sale and enforcing the terms of the deed.

What changed

Last recorded activity March 23, 2017.

What's next

Next step not available in the current record.

Summary

The City of Detroit is considering selling a property located at 14610 Schaefer to Luke’s Property Management, LLC for $1,500. The buyer plans to convert the site into a storage facility for their business, subject to specific deadlines for securing the building and obtaining a .

Key Facts

The City of Detroit proposes to sell the property at 14610 Schaefer to Luke’s Property Management, LLC.
The purchase price is set at $1,500.00.
The property will be transferred via a Quit Claim Deed.
The buyer intends to use the property as a storage facility for their property management business.
The proposed use is permitted under the M2/Restricted Industrial zoning classification.
The buyer must board up or secure the property within six months of closing.
The buyer must obtain a Certificate of Occupancy within 24 months of closing.
The deed includes a 'right of reverter' clause, allowing the city to reclaim the property if the buyer defaults on the terms.
The purchase agreement was originally entered into on February 17, 2017.
The resolution was referred to the Planning and Economic Development Standing Committee on March 23, 2017.

Frequently Asked Questions

What happens if the buyer fails to get a Certificate of Occupancy?

The city retains a '' in the deed, which allows the Planning and Development Department to reclaim the property in the event of a default.

What is the property going to be used for?

The buyer intends to use the property as a storage facility for their property management business.

Why It Matters

This resolution authorizes the transfer of city-owned land to a private entity for $1,500, contingent upon the buyer meeting specific development and occupancy deadlines within 24 months.

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