Christine MacDonald reports in the Detroit News that Wayne County officials have yet to receive $1 million in back taxes promised by a developer who wants to buy the Packard Plant.
But they say the deal isn’t dead -- yet.
Chief Deputy Treasurer David Szymanski said developer Bill Hults told him Friday afternoon the money is on its way and pledged to soon produce proof of the transfer.
Friday was the deadline to save the property from this month’s public auction of foreclosed properties. If treasury officials receive confirmation of a transfer Friday night and the money is placed in escrow by Monday, the deal is still on, Szymanski said.
“We don’t want failure of a 24-hour time period to result in the loss of a tremendous opportunity for the City of Detroit,” Szymanski said.
The Packard plant, with 3.5 million square feet of space, is by far Detroit's largest ruin, though its location -- south of I-94 and Mt. Elliott -- makes it less prominent than the Michigan Central Depot on the western edge of downtown.
Years of abandonment, scrapping and dumping have left the Packard's floors collapsing and large trees growiing from the roof.
