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Sat October 26, 2013
Winning Packard plant online auction bid tops $6M
DETROIT (AP) - A former car plant and symbol of Detroit's economic decline appears to have sold for just over $6 million at a tax foreclosure auction to a bidder from Texas.
The Detroit News and Detroit Free Press report that someone registered as Jill Van Horn of Ennis, Texas, put in the winning bid during Friday's online public auction for the Packard plant.
The auction opened on October 8th at $21,000. The full bid amount is due by the end of Monday.
Wayne County Chief Deputy Treasurer David Szymanski says properties are offered to the next highest bidders if the top bidder fails to come up with the money. The county can seize the property if the buyer fails to secure or demolish the structures on the 40-acre site within six months.
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