Huron Township to Receive Pinnacle Property

The Huron Township Board of Trustees approved an intergovernmental agreement with the Wayne County Land Bank during last week’s meeting and should save several approximately $75,000 in attorney fees by allowing the land bank to handle the seizure. 
The township in Michigan soon will be the first municipality in the state to seize a property that originated from a land bank as a result of the owner’s failure to pay taxes on it.
As of the start of the first auction in June, Pinnacle owed nearly $2.5 million in real property taxes for 2009, 2010 and 2011. Pinnacle also owes $145,942 in personal property taxes for 2010 and 2011. The Pavilion Sports Bar and Grille, which is on the same property but has a different tax ID number, owes $3,549 for its 2011 personal property taxes.
The agreement allows the land bank to begin the process of confiscating Pinnacle Racetrack’s real estate property, which would be the land owned by Pinnacle and the buildings on its premise.
The township is tabulating the proceeds from several auctions of Pinnacle’s property it held in an effort to regain some of the personal property tax owed by Pinnacle.
Plans are in process to have this property ready for redevelopment very soon. The local development finance authority in Huron Township can help assist potential business with this land parcel.

Leave a Reply

Your email address will not be published. Required fields are marked *