The Detroit Science Center closed in September because of financial hardship. The facility faced foreclosure and a public auction of collections on July 5. But a businessman is looking to buy the museum and reopen it as an educational science facility, the Detroit News reports.
* Ron Weiser, a real estate executive from Ann Arbor, former chairman of the Michigan Republican Party and current national finance chairman of the Republican National Committee, has agreed to buy the Detroit Science Center, the Detroit Free Press reports.
* Citizens Bank holds the mortgage and is owed $6.2 million. Weiser said he purchased it for an unspecified amount that was significantly lower than what was owed.
* Weiser plans to sell the property, structures and collections to a newly formed Michigan Science Center for what he bought it for.
* Weiser will pay any concomitant legal fees. He's also donating funds to get the new science center up and running.
* The new center would be run by a new board of directors that would raise funds to pay off the loan owed to Weiser.
* The new chairman is Tom Stephens, who recently retired as chief technology officer and vice chairman of General Motors.
* Weiser's terms are the new Michigan Science Center operates debt-free.
* Weiser wants the new center to continue the mission of the Detroit Science Center which was to provide hands-on lessons in science, technology, engineering and math.
* Buying the entire center means its contents won't be parted out and sold cheaply as would happen in a foreclosure auction.
* If the Detroit Science Center was to be used as an educational facility again, collections would have to be reassembled.
* Weiser said he purchased the Detroit Science Center because he feels it's an important asset to the city.
Marilisa Kinney Sachteleben writes about people, places, events and issues in her home state of "Pure Michigan."