Employees, Retirees and their Immediate Families:
The Detroit Land Bank Authority will give a 50 percent discount on houses bought through the Detroit Land Bank’s housing auction program at BuildingDetroit.org to all city employees, city retirees, and to family members.
The only requirement will be that they continue to own the house for at least three years. If they resell the house before three years, they will have to share any profit with the land bank on the following formula:
- Sale in first 12 months: 75 percent of profit returned to land bank
- Sale in 13-24 months: 50 percent of profit returned to land band
- Sale 25-36 months: 25 percent of profit returned to land bank
To view and place bids on available properties you can register at the Detroit Land Bank Authority website - www.buildingdetroit.org. Please contact your local City Council representative to receive discount verification.