Submitting reso. autho. Sale to Abdullah Alsaidy of Surplus Property at 8324/8348 Joy Road, Detroit, MI 48204. (The P&DD entered into a Purchase Agreement dated September 14, 2016 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 Eleven Thousand and 00/100 Dollars ($11,000.00) (the “Purchase Price”), subject to the approved transaction costs and transaction fee. Offeror intends to rehabilitate the property, a vacant commercial structure, into a storefront for retail sales. The proposed use is a by-right use within a B2/Local Business and Residential District as per Section 61-9-36 (22) of the 2016 City of Detroit Zoning Ordinance. Offeror shall, in addition, board up and/or secure the property within six (6) months of closing, with a right of reverter written into the Deed to be exercised by P&DD in event of default.) (REFERRED TO PLANNING AND ECONOMIC DEVELOPEMENT STANDING COMMITEE ON 11-17-16)

What this record is

Amount

$11K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

purchase

Field

Real estate

real estate contracts in MI that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

Read automatically from the title of the official record. The source document below is authoritative.

Committee

Planning and Economic Development Standing Committee

Introduced

January 12, 2017

On agenda

November 17, 2016

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