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Vacant Land - Detroit, MI
This property is sold with 2708 Mt. Elliot totaling= 14,427 sqft. Not sold separately. Property zoned at R4. Buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with Proof of Funds, Pre-Approval letter, or new construction loan. Projects will require approval of the Design Review from the city of Detroit. 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 abatement 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 abatement on the...
This property is sold with 2708 Mt. Elliot totaling= 14,427 sqft. Not sold separately. Property zoned at R4. Buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with Proof of Funds, Pre-Approval letter, or new construction loan. Projects will require approval of the Design Review from the city of Detroit. 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 abatement 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 abatement on the purchase and development financing. BATVAI. Please see attached documents for DLBA guidelines and submission instructions.
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