Description

This property located in the City of Detroit is a great opportunity. Included are the adjacent lots (12555 Mackay,12547 Mackay, and 12529 Mackay).The buyer must include plans for rehabbing the home, in addition to a plot plans that describes how the buyer will activate the vacant lots into a garden/agriculture use. The seller is the Detroit Land Bank Authority. 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. Please see attached documents for DLAB requirements. BATVAI