RACER Trust Redevelopment Team Participating in CAR Automotive Communities Partnership Meeting
Event Brings Together Economic Development Partners and Other Stakeholders from RACER Communities with a Focus on the Automotive Industry
RACER Trust today announced that its Redevelopment Team — Redevelopment Manger Bruce Rasher, Deputy Redevelopment Manager Patricia Spitzley and Transaction Manager Steven Black — will participate Thursday in the CAR Automotive Communities Partnership Meeting in Detroit.
Hosted by the Center for Automotive Research (CAR), the Automotive Communities Partnership Meeting is an opportunity for RACER Trust and economic development partners to focus on industry forecasts and an outlook on anticipated changes in the automotive supplier sector, among other common interests.
“RACER Trust has helped generate successes for our host communities by securing buyers to revitalize surplus automotive industry assets,” said Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust. “By monitoring industry trends at this and other events, RACER Trust keeps its properties well positioned to capture opportunities that benefit our communities.”
As stated on CAR’s website, “The Automotive Communities Partnership (ACP) brings together communities, international partners, automotive companies, educational institutions, and government agencies in a collaborative environment to sustain and grow the U.S. automotive footprint through monthly industry updates; quarterly sales, production, and employment forecasts; exclusive networking opportunities; and advice on public policy and site selection opportunities.”
The ACP’s membership includes economic development organizations from five RACER Trust states.
“The CAR Automotive Communities Partnership Meeting is a great opportunity for RACER to keep up to date on trends in this industry sector,” Mr. Rasher said. “Although RACER markets its surplus properties to other industry sectors, the automotive industry and its supply chain have been the driver for several of RACER’s buyers.”
About RACER Trust: RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. RACER is one of the largest holders of industrial property in the United States, and when it was formed was the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.