650 GLADSTONE Street

DESCRIPTION

Great property for infill building located in Detroit’s Piety Hill neighborhood.This property is within walking distance to the Q-Line and New Center Area. Buyer must submit a proposal to purchase, including construction plans or precedent agriculture images of proposed development & financing plan w/ POF OR Pre- App letter on a new construction loan. BATVIA. Please note that the DLBA 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. Please see attached documents for DLBA requirements and offer submission information.