RACER Sells Facilities in Ohio, Michigan
Sales by the RACER Trust set stage for
new job creation and economic growth
July 6, 2011 — Three former General Motors Corp. properties in Ohio and Michigan have been sold in separate transactions, with each of the purchasers planning to redevelop the sites to bring new jobs and economic opportunities to their respective communities.
The properties were sold by the RACER Trust, created in March by the U.S. Bankruptcy Court to clean up, position for redevelopment and sell 89 former GM locations in 14 states.
“The mission of the RACER Trust is to help revitalize America’s auto communities by bringing new jobs and economic opportunity,” said Elliott P. Laws, the court-appointed trustee of The RACER Trust. RACER stands for Revitalizing Auto Communities Environmental Response.
The properties are located in Parma and Moraine, Ohio, and Wyoming, Mich.