14253 FORDHAM Street Detroit, MI 48205

This offering includes a bundled sale of three vacant lots located at 14245, 14253, and 14261 Fordham in Detroit, MI. The lots are not available for individual purchase and are being sold together. The combined area of the three lots totals 11,119 square feet. The zoning for these properties is R2, designated for residential use. Prospective buyers are required to submit a purchase proposal that includes detailed construction plans or precedent agriculture images illustrating the proposed development, along with a financing plan supported by proof of funds or a pre-approval letter for a new construction loan. The Detroit Land Bank Authority (DLBA) retains the right to a tax capture for the five tax years following the transfer of ownership. This tax capture may affect the availability of tax abatements for the purchaser. The DLBA will consider requests to waive its tax capture rights, potentially requiring a payment in lieu of taxes. The payment amount will be determined after reviewing the development proforma and the impact of any tax abatement on the purchase and development financing. Additional information regarding DLBA requirements and offer submission procedures is available in the attached documents.