St. Clair Shores Receives Gift of Land for Park

ST. CLAIR SHORES, MI — The city of St. Clair Shores got a huge Christmas gift that will last through the new year and for years to come, the St. Clair Shores Sentinel is reporting. A charitable remainder trust has signed over tract of land along Lake St. Clair that is valued at $1.5 million.

The 100-foot-wide by 550-foot-deep piece of property won't have a lien against or come with a mortgage, and the city is free to sell it and use the money to develop Veterans Memorial Park or Blossom Health Park.

A deal with the trustee has been in the works for about two months, City Attorney Robert Ihrie said at the Dec. 19 City Council meeting

“We are now the proud owners of a beautiful parcel,” said City Manager Michael Smith. “We signed a ... promissory note that says that we’re buying it for $1.5 million, but that the payments will all be forgiven.”

Smith said the trustee, a Detroit resident, wishes to remain anonymous. While there are no conditions on what can be done to the property, there are conditions stating how the city may spend the proceeds of the sale.

» The memorandum of understanding does have some strings. Read the rest of the story on C&G Newspapers.

Photo by asenat29 via Flickr Commons