Deadline missed for Packard Plant funds - FOX 32 News Chicago

Deadline missed for Packard Plant funds, already-paid deposits to pay back taxes

Posted: Updated:
(WJBK) -

The Chicago developer has missed the extended deadline to pay the remaining funds on his $2 million bid for the former Detroit car plant. The Wayne County treasurer gave William Hults a one-week extension to come up with the remaining funds; that deadline expired today.

Hults has already produced $200,000 in nonrefundable deposits for the dilapidated Packard Plant, but has yet to produce the remaining $1.8 million.

Wayne County Chief Deputy Treasurer David Szymanski tells Fox 2's Ron Savage that $200,000 will go towards unpaid back taxes due on the property. "It will help go to the city of Detroit - to the zoo, to the arts, to all of the taxing authorities that are entitled to it, to the schools. It will help reimburse them for the costs of taxes that were not previously collected. If there's anything remaining after that it will go to Wayne County," Szymanski says.

VIDEO: Click more to learn about Hults in Savage's report

Hults wants to convert the 40-acre site into a commercial, residential and entertainment development.

A Texas doctor's $6 million top bid on the blighted property was thrown out last month after she missed a payment. The third-place bid came from Fernando Palazuelo, a developer in Peru.

  • Local NewsLocal NewsMore>>

  • Let It Rip: Gun range age limits; school start times

    Let It Rip: Gun range age limits; school start times

    Thursday, August 28 2014 11:07 PM EDT2014-08-29 03:07:25 GMT
    Part 1: Gun range age limits - how young is too young? Part 2: School start times - are children waking up too early? Part 3: Charlie Langton asks about school start times on the road.
    Part 1: Gun range age limits - how young is too young? Part 2: School start times - are children waking up too early? Part 3: Charlie Langton asks about school start times on the road.
  • City of Detroit has aggressive plan for overgrown grass

    City of Detroit has aggressive plan for overgrown grass

    Thursday, August 28 2014 10:47 PM EDT2014-08-29 02:47:18 GMT
    On Detroit's east side, residents are concerned about the tall grass.In some neighborhoods children have to walk in the street because the growing grass is a growing problem.
    On Detroit's east side, residents are concerned about the tall grass.In some neighborhoods children have to walk in the street because the growing grass is a growing problem.
  • Five hospitalized in 15-car accident on M-14

    Five hospitalized in 15-car accident on M-14

    Thursday, August 28 2014 10:12 PM EDT2014-08-29 02:12:57 GMT
    A large crash involving multiple vehicles has shut down east bound M-14 at Main Street in Ann Arbor.The freeway in that direction is closed for first responders, investigation and cleanup for at least two hours. Stay with Fox 2 for more information as it becomes available.
    A large crash involving multiple vehicles has shut down east bound M-14 at Main Street in Ann Arbor.The freeway in that direction is closed for first responders, investigation and cleanup for at least two hours. Stay with Fox 2 for more information as it becomes available.
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

205 N. Michigan Avenue
Ground Floor
Chicago, IL 60601
Station Operator: (312) 565-5532
Newsroom: (312)565-5533

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices