Thirty-five acres of city-owned land will be leased to an urban farming initiative expected to spend $15 million in the next three years on Detroit's lower east side.
RecoveryPark, a 501(c)3 nonprofit, would eventually own the land after paying $105 per acre per year to lease it and then purchasing it outright for $3,553 per acre.
Under the agreement, RecoveryPark, which is an offshoot of the SHAR Foundation and aims to create jobs for clients of Detroit-based Self Help Addiction Rehabilitation, would be required to secure or demolish any blighted or vacant structures on the land within 12 months of a signed term sheet.
Two years after RecoveryPark gets the land, it would be required to operate at least 3 acres of greenhouses on the property, increasing to 6 acres and 9 acres by the third year and fourth year, respectively.