plant machinery valuation

Flint, MI, USA | Re-develop our abandoned auto plants

Location: Flint, Michigan, USA.

Goal: Start reviving local economy by selling and re-developing the city’s abandoned and defunct automotive factories.

Date Started: January 1, 2015.

Goal Completion Date: December 31, 2017.

Situation Description: It’s no secret that the financial vitality of Flint has been deeply wounded by the past three decades of economic struggle. Once a powerhouse of the automobile assembly industry, especially for Chevrolet and Buick, the city of Flint began to struggle in the 1980’s after General Motors took a hit and had to demolish a number of plants in the area.

This caused a local economic depression as workers were laid off and businesses in the area began to suffer due to lack of consumer spending. In addition, the United States’ economic recession of 2007 delivered yet another brutal blow to the automotive industries of Detroit, MI and the surrounding areas.

Today, Flint is considered one of the most economically depressed cities in the entire United States. The crime rate is high, city revenue is next to nonexistent, and the area as a whole is riddled with abandoned properties that were once flourishing factories that provided jobs to our residents.

Action: We’re pushing to see Flint’s defunct Buick City site renovated, re-developed, and re-opened as either a functioning auto plant or as a historic site. In order for this to happen, we need to find a buyer who can back the sale financially and see what kind of plans they have to turn our old auto plant into a source of income for the city of Flint.

Our first step in this course is to determine the realistic market value of the site. Because the plant still contains a lot of old machinery, we’ll need a plant valuation performed for a fair perspective on what to expect on the market. City council is currently exploring the options for valuation as well as potential repair and re-developing costs. We hope to locate a qualified buyer by summer of 2015, and are tentatively expecting a renovation launch by early 2017.

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