8261 BRUSH Detroit, MI 48202

This offering presents an opportunity for infill housing development, encompassing six properties located at 8265, 8271 Brush and 323, 327, 331 Mt Vernon in Detroit, MI. The properties, totaling 6,628 square feet, are being sold together for $30,000 and will not be sold separately. The buyer is required to submit an application to purchase, including construction plans or precedent architectural images of the proposed development, along with a financing plan that includes either proof of funds, a pre-approval letter, or a new construction loan. The properties are zoned for residential use. Note that 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 abatement that are otherwise available to the selected purchaser. 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.