MI SB0515

State administrative board may convey approximately 157 acres of Michigan State Fairgrounds property in Detroit, Wayne County by quitclaim deed or transfer.

Property cannot be used for horse racing tracks, auto racing tracks, casinos, railroad freight yards, jails, or prisons; the state may reenter and repossess property if these restrictions are violated.

Department may dispose of the property through competitive bidding, public auction, real estate brokerage services, sale to local government at fair market value, or transfer to state land bank fast track authority.

Creates state fairgrounds sale advisory committee with representatives from five local neighborhood associations to provide input if property is transferred to land bank fast track authority; committee is advisory only and dissolved 60 days after all property is conveyed.

Net revenue from conveyance deposited in state general fund; state reserves rights to half of gross revenue from any oil, gas, or mineral development and retains authority to explore and excavate aboriginal antiquities on the property.