Answers to Questions 19-0016 Woodland Trails Owosso.pdf

This document contains answers to questions for a Request for Development Proposal (RFQ-CASE-19-0016) for Woodland Trails Condominium Parcels in the City of Owosso, Shiawassee County, Michigan. The project involves 14 parcels that do not require simultaneous development, with developers able to propose phased approaches or complete site acquisition with build-out milestones. Respondents will be evaluated based on the individual merits of their proposals, with direct communication planned to notify participants of results and a subsequent press release covering the selected developer.

The proposed residential development targets units with an estimated price point between $189,000 and $200,000, with monthly condominium association fees of $70. The Michigan Land Bank (MLB) is open to potentially modifying the lot structure to fee simple lots incorporated into a Neighborhood Association and is considering warrantability considerations with Fannie Mae. The document suggests flexibility in development approach, allowing potential developers to craft proposals that accommodate phased construction or comprehensive site development while meeting the city's residential development objectives.