Property Sale by the Detroit Land Bank Authority - Bedford Development LLC - Development (Occupied Property): 5267, 5253 Marlborough, 5600 Manistique, 4404, 6150 Neff, 5558 University Plaza, 12115 Payton, 4317, 5280, 5574 Maryland, 5246, 5259, 9416 Wayburn, 4015, 5051, 9995 Beaconsfield, 4135, 5099, 9846 Nottingham, 4829 Lakepointe, 5274 Three Mile Dr., 12403 Whitehill, 9339 Courville, 11221 Stockwell, 10480 Balfour and 9164 Bishop. (The Detroit Land Bank Authority (“DLBA”) has received an offer from Bedford Development LLC (the “Purchaser”), a Michigan limited liability company, to enter in to an option agreement to purchase Twenty-Six (26) DLBA-owned properties (the “Properties”), for the purchase price of Sixty-Five Thousand and 00/100 Dollars ($65,000.00). Pursuant to the First Amended and Restated Memorandum of Understanding ("MOU") between the City of Detroit and the DLBA, approved by the Detroit City Council on May 5, 2015, the DLBA may not transfer ten (10) or more parcels of property received from the City of Detroit to the same transferee within any rolling twelve (12) month period without the prior approval of the Mayor and City Council. The Planning & Development Department (“P&DD”) requests that your Honorable Body authorize the Detroit Land Bank Authority to enter into an Option Agreement with Purchaser.)