Deal? No deal in cemetery sale
DETROIT (AP) — There’s a problem with a deal Michigan officials tentatively OK’d for a company to buy more than two dozen cemeteries in the state: None is for sale.
The Detroit Free Press reports that the owner of 28 cemeteries allegedly involved in the proposed sale says he’s had no contact with the would-be buyer.
The Michigan Strategic Fund gave preliminary approval June 26 for a $26.5 million tax-exempt bond issue to help the nonprofit Cathedral of St. Augustine’s purchase 30 cemeteries. Owners of the other two aren’t aware of any sale negotiations either.
The newspaper reported that officials from Southfield-based St. Augustine’s declined interviews.
Christopher Cook is director of the agency overseeing the strategic fund. He says if St. Augustine’s doesn’t obtain purchase agreements for the cemeteries, there’s no bond issue.