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Title:
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Submitting reso. autho. Sale to Abdullah Alsaidy of Surplus Property at 8324/8348 Joy Road, Detroit, MI 48204. (The P&DD entered into a Purchase Agreement dated September 14, 2016 with the Offeror. Under the terms of a proposed Purchase Agreement, the Property would be conveyed to the Offeror by Quit Claim Deed (the “Deed”) for Eleven Thousand and 00/100 Dollars ($11,000.00) (the “Purchase Price”), subject to the approved transaction costs and transaction fee. Offeror intends to rehabilitate the property, a vacant commercial structure, into a storefront for retail sales. The proposed use is a by-right use within a B2/Local Business and Residential District as per Section 61-9-36 (22) of the 2016 City of Detroit Zoning Ordinance. Offeror shall, in addition, board up and/or secure the property within six (6) months of closing, with a right of reverter written into the Deed to be exercised by P&DD in event of default.) (REFERRED TO PLANNING AND ECONOMIC DEVELOPEMENT STANDING COMMITEE ON...
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