Adamo Group Pays $1 For Demolition Project & Salvage Rights
Published by Seligman James on
The project, the Robert Scott Correctional Facility located on 53 acres in Northville, MI.
From the early reports Adamo should net more than $400,000 from the deal. Adamo will own everything on the site, including a large generator that is probably worth around $250,000, which they will be able to sell. They will also get plenty of steel and other metals, plus concrete rubble, all of which they will be able to sell on the open market. There is also value in the gymnasium and kitchen facilities.
The township received three bids. Two of the bids, one from 21st Century Salvage Inc. and the other form Homrich Inc. 21st Century Salvage wanted to charge the township $177,600 to do the work, while Homrich would have charged $96,000.
Adamo has one year to complete the demolition, which should start sometime in April.