FLINT TWP. — After several tries, the township board has finally come to terms with a buyer for the sale of two vacant lots on Charter Drive.
The board voted unanimously to accept an offer from Samir Elian M.D., of Flint Cardiovascular Consultants, to purchase the land for $55,000 without contingencies except an agreement not to resell the property for five years.
The board first struck a deal with Dr. Elian in November 2013, but it did not go through because of contingencies that Elian submit a site plan within 180 days and begin building within a year.
In October 2014, the board rejected a $38,000 from Elian to buy the same vacant property.
More recently, the board turned down an offer from Elian in March, offering the same price, but asking that the contingencies be removed.
The parcels are among nine on Charter Drive, off Court and Linden roads, that the township listed for sale in the spring of 2014. All were acquired for free in 2008 through the Genesee County Treasurer’s Office tax foreclosed properties, after failing to sell at public auction.
Trustee George Menoutes voted each time to accept Elian’s offer because he said the township did not pay anything for the property and vacant land is not in demand in Genesee County.
In the latest offer, Elian came back with terms agreeing not to sell the property within five years, thereby alleviating any concerns by the board that he would buy low and resell for a profit.
Some township board members questioned whether that five-year restriction is even enforceable. Trustee Frank Kasle said if the offer is a fair price, he could not see any reason to place restrictions on it.
“Once we sell it, we don’t have much of a say in it,’’ said Township Supervisor Karyn Miller.
It has been previously stated that the land and is near Elian’s current offices and that he planned to eventually build on it.
Karen Cape Vice President Cooper Commercial Group, which is handling the sale of the properties for the township, advised selling the parcels to Elian.
“Although the offers on these properties have not been as high as we would like them, we are seeing very few vacant land sales throughout Genesee County,” she said in a memo to the board. “We suggest that getting the property back on the tax rolls is a very good thing.
While it was ideal to have the conditions placed on the property for a buyer to build within a one-year timeline, etc. none of the potential buyers were willing to accept these terms. One buyer has walked away and this buyer is returning only if those conditions are removed. It may be best for the
Township to consider that a “distressed” property’s largest potential benefit to the Township is getting it back on the tax rolls at the highest price the market will bear.”