Second bidder loses Packard Plant after failing to meet deadlines

(WXYZ) - Bill Hults, the second bidder on the Packard Plant, failed to meet the Wayne County treasurer's deadline for paying the rest of his full $2,003,000 bid for the property on Friday.

The failure to pay the full amount has defaulted him from the auction process. The treasurer will now move to the third place bidder. 

Hults had missed other deadlines in the past and eventually paid the treasurer $200,000 as a non-refundable deposit. 

Hults won the auction after the highest bidder failed to make good on their bid. Dr. Jill Van Horn  had originally bid $6,038,000 for the Packard Plant

 

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