Vacant corner among three lots city considering for purchase

A vacant corner lot near the heart of downtown Tecumseh may soon be owned by the city pending city council approval of a financing agreement with the Downtown Development Authority (DDA) and purchase agreement with the seller.The vacant lot, located on the northeast corner of North Evans and East Logan Streets, is one of three lots that may be purchased from Ray Hamblin, owner of The Hamblin Company.DDA Chairman Bob Fox and Economic Development Director Paula Holtz have met with Hamblin who has tentatively agreed to sell the three lots for a total of $230,000. Under a proposed agreement between the city and the DDA, the DDA will pay 50 percent down, or $115,000, and payback the balance owed to the city over a 16-year period.The properties include the corner lot, as well as one lot north of the corner property, near the Tecumseh District Library, and a third lot just north of Long Mo-tor Sales on the west side of Evans Street. All three properties recently passed a phase one environmental assessment. Appraisals of the lots were within close range of Hamblin’s asking price.The sale will not interfere or effect the ongoing business of the Hamblin Company.If agreements are reached, a closing on the sale could potentially take place within weeks, according to Holtz.Often referred to as the Evans Street corridor, the major downtown thoroughfare stretches from Pottawatamie Street to Shawnee Street, and has been noted for having future development potential.Holtz said acquisition of the property will help secure the locations for such future development that could include parking, farmer’s market pavilion, and possible retail use, however, she emphasized any development would be long-term.The corridor was first mentioned in a study by HyettPalma which concluded that future growth of the downtown would likely head north along Evans Street. Over the past two years, planning sessions by the DDA with property owners along North Evans Street have addressed the need to improve the streetscape leading into the city from the north.Tecumseh City Council is scheduled to review and vote on the loan agreement with the DDA at the Monday, Aug. 2, regular meeting.If approved, a purchase agreement would be pursued with Hamblin before a closing date is set.

Tecumseh Herald

 

110 E. Logan St.
P.O. Box 218
Tecumseh, MI 49286
517-423-2174
800-832-6443

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