New York Bankruptcy Court Allows Univ of Delaware to Buy Chrysler Site

Article posted at The Newark Post

Thursday, November 12, 2009

This is an interesting story. We look forward to seeing what the University of Delaware does with the site.

The University of Delaware's purchase agreement for the 272-acre site formerly occupied by the Chrysler Assembly Plant in Newark was approved by the U.S. Federal Bankruptcy Court in New York on Thursday. According to UD Executive Vice President Scott Douglass, who attended the bankruptcy court hearing, this was the next step toward eventual ownership of the site by the University.

"We expect closing on the property to occur later this month, and have already begun the process of evaluating the facilities on site for decommissioning, demolition, and winterizing purposes," Douglass said. "Our internal team is working with outside experts as well as colleagues at the Delaware Department of Natural Resources and Environmental Control (DNREC), the Delaware Department of Transportation (DelDOT) and the City of Newark to make this a smooth ownership transition."