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Colonial - Detroit, MI
3 Income Properties for the Price of 1 & 3 lots totaling $24,900. Addresses include 5618, 5761, 5767, 5773, and 5781 Missouri. Close to historic Grand River, Downtown, Motown Museum, city parks, major freeways and more! Homes will not be sold separately, NO Exceptions! Each deed shall represent a sale price of $8,300 per property. Sale contingent on buyer/seller executed development agreement. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any ta...
3 Income Properties for the Price of 1 & 3 lots totaling $24,900. Addresses include 5618, 5761, 5767, 5773, and 5781 Missouri. Close to historic Grand River, Downtown, Motown Museum, city parks, major freeways and more! Homes will not be sold separately, NO Exceptions! Each deed shall represent a sale price of $8,300 per property. Sale contingent on buyer/seller executed development agreement. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing.
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