4206 VERMONT Detroit, MI 48208

This vacant land is bundled with 4134 and 4144 Vermont and must be purchased together for $65,000. The property is located in Detroit, MI. The zoning is residential, and any building should define space in a meaningful way and be designed to complement the community. The development should provide a diverse residential stock and density at a variety of price points and ownership types, including rental and owned housing. Housing types should also vary. Densities should support opportunities for neighborhood commercial investments and job creation, stimulating growth in the local economy. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements that are otherwise available to the selected purchaser. The DLBA 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. Additional documents are attached outlining DLBA requirements and offer submission information. The lot size is 0.06 acres.