SOMEONE Needs to Buy Lapeer dragway

I read on FB yesterday that the original injunction is still being contested in court. Because the new owner wants to continue as a drag strip, which is a factor on the injunction, a transfer of ownership can’t take place. Sound’s like if he bought it and wanted to do something else with it he could but not a drag strip until the lawsuit is resolved.

Now I’m reading it was a 90 day lease, sale pending on soil sample, that expired and the owner didn’t care to extend the lease. Who knows? Is better than TV though.
 
Last edited:
How much is it? I mean, he put millions into it, but is it worth millions? It is a big chunk of land.

-Geoff
 
Huge problem because of zoning. That track from day 1 has been running on agricultural land and never zoned as special purpose use.
Bill had it rezoned as commercial with a stipulation that if its sold it cant be a drag strip anymore.
Alex agreed to a 90 day lease while the lawyers investigated the books.
Lawyers found the zoning stipulation and told Alex to give the keys back to Bill .
 
sounds to me like the only way bill can sell it is if someone doesn't want it for the drag strip (ak worth way less) or to get a partner and still own a small stake in it
 
You must log in or register to reply here.
Back
Top