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Wayne County, Michigan Investor Relations

Issuer Type: County/City/Town

Bond Ratings

1 of 2

General Obligation

Moody's
Baa1
S&P
BBB+
Fitch
BBB+

Revenue

Moody's
Aa3
Warren C. Evans

On behalf of Wayne County, Michigan I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the County, as it allows us to make critical investments in public infrastructure throughout Wayne County. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of Wayne County, MI. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.

Warren C. Evans, County Executive

News & Highlights

February 25, 2020

Press Release
Seven Mile Rd. Bridge Over Upper Rouge River Update

February 25, 2020

SEVEN MILE RD. BRIDGE OVER UPPER ROUGE RIVER UPDATE—DETROIT

_Motorists traveling on _****Seven Mile Rd. Bridge over Upper Rouge River will now need to adhere to new restrictions

DETROIT- After completing detailed inspections, the weight restrictions for Seven Mile Rd. Bridge over Upper Rouge River have been updated and will now be posted at 42/63/69 tons.

Informational signs have been posted to alert motorists. Inspections of the bridge will be conducted routinely. Motorists are cautioned to reduce speed when entering and exiting the bridge.

For vehicles over the posted weights, the following detours are enforced:

• If traveling eastbound on Seven Mile Road, use the truck detour route by turning right and take southbound Telegraph Road (US-24) to Six Mile (McNichols) Road.  Enter into the far left lane and proceed past Six Mile (McNichols) Road.  Use the left lane and enter the crossover to take northbound Telegraph Road (US-24) to Six Mile (McNichols) Road.  Turn right and take eastbound Six Mile (McNichols) Road to Lahser Road, then turn left and take northbound Lahser Road to Seven Mile Road.

• If traveling westbound on Seven Mile Road, use the truck detour route by turning left and take southbound Lahser Road to Six Mile (McNichols) Road, then turn right and take westbound Six Mile (McNichols) Road to Telegraph Road (US-24), then turn right and take northbound Telegraph Road (US-24) to Seven Mile Road.

Wayne County is committed to the safety of its roads and bridges.  The County has 231 bridges within its 43 communities. For updates and questions, the public can contact the Wayne County Roads Division at 888.ROAD.CREW.

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January 28, 2020

Press Release
Hughey Newsome named Chief Financial Officer and Lisa Whitmore Davis leading Senior Services Department

DETROIT – Wayne County Executive Warren C. Evans announced the appointment of two key positions within administration with Hughey Newsome as Chief Financial Officer (CFO) and Lisa Whitmore Davis as the new Director of Senior Services for Wayne County.

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December 18, 2019

Press Release
Wayne County closes deal on 650-acre Pinnacle Aeropark Property

FOR IMMEDIATE RELEASE

December 18, 2019                                             

Wayne County closes deal on 650-acre Pinnacle Aeropark Property

Site plans call for two initial speculative buildings totaling just over 600,000 square feet

DETROIT- Today, Wayne County announced the closing on the sale of the Pinnacle Aeropark Property to HS Commerce 275 LLC, a joint venture between Hillwood Enterprise, L.P. and Sterling Group for nearly $4.9 million following completed inspections of the property. Initial site plans call for two storage or warehouse type buildings totaling more than 600,000 square feet.

“Given the proximity to the airport and the expected growth of the logistics industry, we think potential tenants will be as interested and excited about this project as we are,” said Wayne County Executive Warren C. Evans. “We are continuing to leverage assets like Detroit Metro Airport to attract investment, create jobs and expand the tax base.”

Under the sale terms approved by the County Commission on October 3, the purchasers agree to invest $40 million into the property within five years.

The property in Huron Township was rezoned in August by Huron Township from a Special Purpose District to the Pinnacle Development Area District, clearing the way for the project. The site, which is bordered by Pennsylvania, Wayne, Sibley and Vining roads, includes 350 acres of County-owned land and the 300-acre Pinnacle Race Course site, which was acquired after foreclosure in 2019 via the right of refusal process.

“This property is perfectly situated for mixed use industrial development to drive commercial investment. The fact that Hillwood was willing to move forward with these buildings before securing tenants tells us they expect the property to be in demand and that’s a great sign,” said Assistant Wayne County Executive Khalil Rahal. “We want to thank the local officials in Huron Township for partnering to bring this project to fruition.”

In 2016, structures and debris on the race course parcel were removed following an agreement between the County and the property’s then-owner to clear the site.

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