Title
Request to Complete the Sale of 90, 102, and 114 Stimson Street and 78 Peterboro Street, Detroit, Michigan 48201
Body
Agenda of: September 23, 2026
Item No.: 2026-379
Amount: $2,000,000.00 less closing costs and brokerage fees
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey, P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: September 9, 2026
RE: Request to Complete the Sale of 90, 102, and 114 Stimson Street and 78 Peterboro Street, Detroit, Michigan 48201
MOTION
Upon recommendation and opinion of Suzanne R. Coffey, Chief Executive Officer, and Phyllis Hurks, Chief General Counsel, the Board of Directors for the Great Lakes Water Authority (GLWA):
Approves the sale of 90, 102, and 114 Stimson Street and 78 Peterboro Street, Detroit, Michigan 48201 (the “Properties”), at a purchase price of $2,000,000.00, less closing costs and brokerage fees, to a joint venture entity to be formed between Queen Lillian Development and Platform Holdings; and
Authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote, including executing the Purchase Agreement and any closing documents.
JUSTIFICATION
The Properties are vacant parcels. In 2000, the Properties were purchased for $797,500 with the intent to build a new administrative building.
Pursuant to the Regional Water Supply System Lease, Regional Sewage Disposal Lease, and the Master Bond Ordinance, the Properties are part of the Detroit Local Sewer and Water Facilities that were paid for in whole or in part with common-to-all funds, and thus GLWA has the right to sell the Properties, as they are no longer needed or useful in connection with GLWA’s operations to support its service to wholesale customers. Negotiations of the Sale were previously completed and an appropriate monies have been deposited in escrow.
By selling the Properties, they will be returned to productive use as eithe...
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