Farmington officials on Monday approved a deal that could bring 14 single-family homes to the former 47th District Court property on 10 Mile Road.
A fourth round of proposals for the 3.8-acre property included three developers; council members gave the nod to Farmington Hills-based Boji Development earlier this month. The agreement sets a $250,000 purchase price and gives the company 60 days to submit a Planned Unit Development (PUD) application, the first step in obtaining city approvals for the project.
In a memo to council members, City Manager David Murphy said the company will submit a $20,000 deposit that is refundable only if the city fails to approve the PUD agreement within six months or if there are issues with the property title.
“However, if the Developer fails to submit a PUD application timely within 60 days, or if the Developer fails to diligently pursue the PUD approval and does not cure that failure on 30 days’ notice by the City, then the City may declare the deposit forfeited,” he wrote.