Title
Authorization for Sale of Leased Property Commonly Known as 11900 Freud and 11900 E. Jefferson, Detroit, Michigan to the Detroit Brownfield Redevelopment Authority
Body
Agenda of: March 13, 2019
Item No.: 2019-115
Amount: TBD
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority
DATE: March 12, 2019
RE: Authorization for Sale of Leased Property Commonly Known as 11900 Freud and 11900 E. Jefferson, Detroit, Michigan to the Detroit Brownfield Redevelopment Authority
MOTION
Upon recommendation of Randal M. Brown, General Counsel, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA) authorizes the sale of leased property Commonly Known as 11900 Freud and 11900 E. Jefferson, Detroit, Michigan to the Detroit Brownfield Redevelopment Authority for the sum of One Million and no/100 Dollars ($1,000,000.00) pursuant to the attached Real Property Purchase Agreement; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
On February 26, 2019, Fiat Chrysler Automobiles NV (FCA) and the City of Detroit announced FCA's intent to invest approximately $4.5 billion in five automobile plants located in the State of Michigan. Included amongst the proposed investments is approximately $1.6 billion to be invested in the Jefferson North and Mack Avenue Engine Plants located within the City of Detroit. On February 26, 2019, the Detroit News reported that: "Under terms of a Memorandum of Understanding between the Detroit and FCA, city officials must assemble land, craft a community benefits agreement and finalize tax incentives." GLWA staff has been advised this Memorandum of Understanding requires the City to assemble the land for this project within 60 days or by April 25, 2019.
GLWA owns property located at 11900 Freud and 11900 E. Jefferson, south of FCA's Jeffer...
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