14253 FORDHAM Street Detroit, MI 48205

This offering includes a bundle of three vacant lots located in Detroit, Michigan, specifically 14245, 14261, and 14253 Fordham Street. The combined area of the lots totals 11,119 square feet, equivalent to approximately 0.09 acres. The zoning for these lots 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. It should be noted that the Detroit Land Bank Authority (DLBA) is entitled 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 amount of this payment will be determined after reviewing the development proforma and the impact of any tax abatements on the purchase and development financing. Additional information regarding DLBA requirements and offer submission procedures is available in the attached documents.