Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 18 | Friday, May 3, 2019

Detroit reaches land deals for new Fiat Chrysler plant plan

Print | Front Page | Email this story

DETROIT (AP) — Land deals that will allow Fiat Chrysler to build a new assembly plant in Detroit are expected to cost the city and state about $107 million.

Mayor Mike Duggan released details Friday of agreements reached for nearly 215 acres (87 hectares) on the city's eastside that the automaker wants as part of a $1.6 billion investment .

About 155 acres (62-hectares) are owned by the city and the Detroit Land Bank Authority.

Deals have been reached with several major property owners, including 82 acres (33 hectares) from a company owned by the family of businessman Manuel "Matty" Moroun.

Duggan's office says Detroit will use $36 million in bond funding, a $7.5 million loan from the city's Brownfield Redevelopment Authority and just over $7 million from the sale of a city-owned garage.

Another $57 million in grants and loans has been requested from the state.

The project has to be approved by the City Council.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0