1. $6.3M dose of cold reality: Troy Transit Center sits empty amid dispute Lauren Abdel-Razzaq The Detroit News March 19, 2014 http://www.detroitnews.com/article/20140319/METRO02/303190036/-6-3M-dose-cold-reality-Troy-Transit-Center-sits-empty-amid-dispute

2. Locked! Troy— Months after construction was completed on Troy’s new multimodal transit center, passengers hoping to catch a train at the $6.3 million facility are still out in the cold. The transit center was born in controversy and continues to be a headache for Troy years after the City Council approved federal funds to build it. The center, which was completed last fall behind a shopping center near Maple and Coolidge Highway, remains closed to commuters because, according to a judge’s ruling, the city does not own the land upon which it was built.

3. Does not benefit commuters Commuters using the Amtrak train must use a freestanding shelter on the other side of the train tracks in Birmingham. Riders on SMART bus lines 465 and 475 also have to wait in freestanding shelters along Maple Road, according to the suburban bus service. “It’s a shame people have to stand outside in the cold when there is a perfectly good building across the tracks,” said Troy Mayor Dane Slater.

4. Who controls? The city is committed to gaining control of the land, which the judge ruled belongs to developer Grand/Sakwa Properties, the owner of the Midtown Square shopping center surrounding the transit center. Last month, Oakland County Circuit Judge Leo Bowman dismissed the city’s lawsuit against Grand/Sakwa, affirming the developer’s ownership of the land. It’s the latest setback for the city, which has been trying for more than 13 years to open a transit center on the site. Troy partnered with Birmingham on the transit project in 2000, when Grand/Sakwa donated the land with the condition that the money for the transit center be secured by 2010. Birmingham later backed out.

5. How much is the land worth? The city secured an $8.4 million federal grant, but the developer says the money was not acquired before the deadline, meaning the land reverted back to the developer. In the lawsuit, the city offered to pay Grand/Sakwa $550,000 for the 2.7-acre site. That amount comes from a 2010 appraisal of the land that was completed before the transit center was built. In a response filed in court, Grand/Sakwa says its concerns go beyond how much the land is worth. The developer says Troy has not provided the “resources necessary to properly operate and maintain” the transit center.

6. The Economics What gives a land parcel value? Characteristics Size Configuration Proximity to users Transportation access Originally related to downtown, but applies anywhere. Distance $ Rent 0 No improvement Improved

7. The Economics What gives a land parcel value? Characteristics Size Configuration Proximity to users Transportation access Originally related to downtown, but applies anywhere. Distance $ Rent 0 No improvement Improved What could happen to taxes?

8. Withdrawal Deadline – Sunday, March 23 You CANNOT withdraw after that.