3520 MOUNT ELLIOTT Street Detroit, MI 48207

This commercial vacant lot is located in the Islandview neighborhood of Detroit. The property offers a blank space suitable for future business endeavors and is located minutes from Downtown Detroit. The Detroit Land Bank is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult the proposal guidelines for land-based sites and the Guide to Plot Plan, Site Design, and Maintenance. Reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department is also recommended for additional context about the neighborhood. The lot size is 0.11 acres. The Detroit Land Bank is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatement that are otherwise available to the selected purchaser. The Detroit Land Bank 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.