Packard Plant bidder makes Friday deadline

Wayne County says Bill Hults has made nonrefundable deposit, must pay in full by Monday

Author: Lisa Ray, Managing Editor, ClickOnDetroit.com, @ClickOnLisa, lray@wdiv.com
Published On: Nov 01 2013 05:24:19 PM EDT

Chicago-investor Bill Hults delivered the $100,000 deposit required for his purchase of the Packard Plant.

According to Wayne County Deputy Treasurer David Szymanski, Hults made it into the Treasurer’s office by 4:45 p.m. to deliver the $100,000 check. Hults now has until 3 p.m. Monday to pay the rest of the more than $2 million bid he made last Friday. 

If Hults doesn’t come through with the rest of the bid, he will lose the $100,000 deposit. The site will then go to the next highest bidder, Fernando Palazuelo, a developer based out of Lima, Peru.

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