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Miller Canfield congratulates its clients, the City of Detroit, and the Detroit Brownfield Redevelopment Authority on the successful assembly of nearly 215 acres of property—without the use of eminent domain—that will enable Fiat Chrysler Automobiles to move forward with its highly publicized Mack Assembly project. FCA plans to invest $2.5 billion in the project, where it will build new versions of the Jeep Grand Cherokee, creating approximately 5,000 jobs.
The City and the Authority undertook a monumental effort to secure this investment on an accelerated timeline—just 65 days—while simultaneously (1) negotiating and cinching the necessary land acquisitions, (2) conducting aggressive and proactive due diligence, (3) designing and assembling a complex (and quite novel) financing, and (4) negotiating the City-FCA development agreement. We are proud to serve as a partner in this historic development.
- Principal
In addition to his broad-based work with municipalities and bond purchasers, Jeff has special expertise in airport finance and conduit financing for tax-exempt organizations and small manufacturers. He also has extensive ...