The Toledo-Lucas County Port Authority has acquired the Jeep Parkway property for $95,000.
The 111-acre site at 1000 Jeep Pkwy. will undergo an environmental cleanup over the next 18 to 24 months and be redeveloped after that, the port authority said Friday.
In August, the port authority's board authorized President Paul Toth to enter into an agreement to acquire the property from the owner, OldCar Co. Liquidating Trust, an entity representing the old Chrysler. The port is to receive a $1.3 million grant from the U.S. Housing and Urban Development department to cover some of the expenses associated with the purchase. It will seek other grants to fund the cleanup and development.