1197 Concord Street

This property is listed in a bundle with the following seven contiguous parcels and must be sold together:1207 Concord, 1197 Concord, 1191 Concord, 1185 Concord, 1179 Concord, 1173 Concord, and 1221 Concord.These must be purchased together and cannot be split. Zoned residential, the property provides excellentpotential for a new build/infill development opportunity. How to Apply: Interested buyers must submit aproposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bankstatement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects:(include addresses and photos). The DLBA is seeking proposals for small- to medium-scale infill developmentto increase housing supply, restore the urban fabric, and improve density and walkability. Interested buyersshould consult the proposal guidelines for new build opportunities. The DLBA also recommends reviewingrelevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department foradditional context about the neighborhood. Please note that the DLBA is entitled to a tax capture for the 5 taxyears subsequent to transferring ownership of the property. The tax capture may be incompatible with taxabatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its taxcapture rights and may require a payment in lieu of taxes to approve such requests. The payment will bedetermined upon reviewing the development proforma and effect of any tax abatement on the purchase anddevelopment financing.