Strategic Property Acquisition Fund

At a glance

• What: Resolution 26-1500 (R-26-374) allocating $9.7 million in proceeds from the Kline's Lot (309 S. Ashley) sale to establish the Strategic Property Acquisition Fund.
• Where it stands: Approved September 22, 2026, unanimously with 8-vote requirement satisfied.
• Funding: $9,700,000 from Kline's Lot sale proceeds

Background

Following the approval of the purchase and sale agreement for the Kline's Lot on September 8, the September 22 meeting voted to allocate the proceeds from that sale to establish a Strategic Property Acquisition Fund. This allows the City to acquire strategic properties for future development or preservation purposes.

Public Comment

• Tricia Hackney - expressed concern about the process and the lack of affordable housing in Ann Arbor.

Sources

• September 22, 2026 minutes: https://a2gov.legistar1.com/a2gov/meetings/2026/9/14159_M_City_Council_26-09-22_Meeting_Minutes.pdf

Log

2026-09-22 - City Council

Resolution 26-1500 (R-26-374) approved unanimously, satisfying 8-vote requirement. $9.7 million from Kline's Lot sale proceeds allocated to establish Strategic Property Acquisition Fund.

2026-09-22 - City Council

Councilmember Cornell described the fund as enabling proactive acquisition of parcels for strategic reuse, since the city lacks such reserves.