37ºF

FCA sets deadline for city of Detroit on land deed

DETROIT – The Moroun family purchased the old Budd Wheel plant in 2007, demolished the building and has been allowing Fiat Chrysler Automobiles to use the site as a logistics hub for vehicles.

RELATED: VIDEO: Implosion of former Budd Wheel Building on Detroit's east side

Now FCA wants the city to purchase the land and give it to the company so it can put $2.5 billion into its neighboring Jefferson North plant.

The FCA said the deadline for the city to make the decision is midnight Friday.

If the deal is accepted, nearly 5,000 new jobs will be created in the area and FCA agreed to hire people from the area first.

The city of Detroit and FCA already agreed to a $35 million community benefits package, scholarship money and career technology programs in Metro Detroit. 

The land acquisition still needs to be done and the deadline is approaching. A representative with the city of Detroit said the deal is currently "right on schedule."