MI HB4480

State administrative board may convey Dexter-Elmhurst property (located in Detroit, Wayne County) currently under department of human services jurisdiction by quitclaim deed for not less than fair market value.

Fair market value shall be determined by independent appraisal prepared for the department of technology, management, and budget.

Wayne County or a county entity has first right to purchase the property for $1.00 within 120 days of the act's effective date; if declined, property may be sold through competitive bidding, public auction, or real estate brokerage services.

Any conveyance to local government must restrict property use to public purposes with equal fees and access for all members of the public; state retains right of reentry and repossession if conditions are violated.

Net revenue from property sale shall be deposited in the general fund after deducting administrative costs, environmental remediation, legal fees, and other sale-related expenses; state retains right to 50% of gross revenue if purchaser develops any oil, gas, or minerals on the property.