MI HB5284

Authorizes the Department of Technology, Management, and Budget to convey state-owned property in Saginaw (East 1/2 of vacated North Baum Street from North line of East Genesee Avenue to center line of Tuscola Street) to the City of Saginaw for $1.00.

Requires the City of Saginaw to convey the property to Delta College for $1.00, with title automatically reverting to the state if the city fails to do so by September 30, 2018.

Obligates Delta College to offer the property back to the state for 120 days at the original sale price if Delta College intends to convey it; the state is not liable for any improvements or liens if it declines to reacquire the property.

Reserves to the state all aboriginal antiquities on the property and requires any oil, gas, or mineral development to pay the state 1/2 of gross revenue, deposited in the general fund.

Permits the state to re-enter and repossess the property if restrictions are violated, with no obligation to reimburse improvements; net revenue from sales deposited in the general fund after deducting administrative, environmental, legal, and litigation costs.