The city of Lansing has agreed to sell the building housing the R.E. Olds Transportation Museum to the museum’s operators.
A press release from Mayor Virg Bernero says this deal reflects the 36-year relationship with museum operators, and the need for future spending to maintain the facility.
Under the agreement, title to the property will be transferred for $2. The museum has rented the space for a dollar a year since its inception. Since 2005, the museum has been required to pay for all repairs and maintenance.
The building has been appraised at $140,00. It needs roof repairs estimated at $167,000.
The city’s planning board will consider the transaction tonight. If approved, the agreement will go before the city council.