Revitalizing Auto Communities Environmental Response (RACER) TrustMayors Automotive CoalitionWebinar(June 13, 2011)

Creation of the TrustKey dates: June 2009 GM bankruptcy.October 2010 Settlement Agreement (U.S. Government, 14 States, St. Regis Mohawk Tribe, and old GM)March 31, 2011 Trust Effective.Close to $500M for cleanup: ($431M in separate buckets for all 60 sites with knowns; $68M Cushion for unexpected overruns and for any contamination found at the other 29 sites).Roughly $220M (in funds and Property) for holding costs, redevelopment, and administrative.

Dual Mission: remediation and redevelopmentRequires input of affected communities

Mission

Settlement Agreement 65In contemplating sales, Trustee shall consider (i) whether the monetary value of the purchase price is sufficient in light of the projected budget for the sale of that Property, taking into account any surplus from past Properties sold or projected shortfall on the sale of the remaining Properties; (ii) the potential for the reuse to create jobs in the State, and the affected community; (iii) other benefits to the State, the Tribe, if applicable, and affected communities (such as increasing tax revenue, reducing blight, and providing a sense of renewal); (iv) avoiding a material increase in the cost of or interference with the Environmental Action; (v) the views of the State, the Tribe, if applicable, and affected communities; and (vi) the reputation and credibility of the prospective purchaser.

Sold and Under ContractFacility IDFacility NameCityStatePrimary Use11016560 Cass AvenueDetroitMIVacant / Surplus Land1190GMVM - Wilmington AssemblyWilmingtonDEManufacturing Facilities1203GMPT - Parma ComplexParmaOHManufacturing Facilities1204Stamping - PittsburghWest MifflinPAManufacturing Facilities1303Grondinwood ResidenceMilfordMIResidential13041495 Oak HollowMilfordMIResidential1307Pontiac Centerpoint Campus - EastPontiacMIEngineering / Office / WarehouseVariousBedford Town SitesBedfordINResidentialFacility IDFacility NameCityStatePrimary Use1121Pontiac Fiero Site (excludes Powerhouse)PontiacMIEngineering / Office / Warehouse1196GMVM - Pontiac AssemblyPontiacMIManufacturing Facilities1197Stamping - Pontiac North Campus (excludes Plt #14)PontiacMIManufacturing Facilities1198Stamping - Grand RapidsGrand RapidsMIManufacturing Facilities1202GMVM - Moraine AssemblyMoraineOHManufacturing Facilities1305Pontiac Centerpoint Campus - CentralPontiacMIEngineering / Office / Warehouse1308Pontiac Centerpoint Campus - WestPontiacMIEngineering / Office / Warehouse1310ACC - Penske sitePontiacMIEngineering / Office / WarehouseSold:Under Contract:

Trust StructureAdministrative Trustee: Elliott Laws, Managing MemberChief Operating Officer & General Counsel: Michael HillRedevelopment Manager: Bruce Rasher (Patricia Spitzley as Deputy)Cleanup Managers:Delaware, Louisiana, Massachusetts, Ohio, Pennsylvania and Virginia: Pam BarnettIndiana, Illinois, Kansas, Missouri, Wisconsin, and New Jersey: Bob HareNew York: Brendan MullenMichigan: Grant Trigger (Dave Favero as Deputy)

RACER Team

Elliott LawsAdministrative TrusteeBruce RasherRedevelopment ManagerPatricia SpitzleyDeputy Redevelopment ManagerBob HareCleanup Manager for IN, IL, KS, MO, WI, NJPam BarnettCleanup Manager for DE, LA, MA, OH, PA, VABrendan MullenCleanup Manager for New YorkGrant TriggerCleanup Manager for MichiganDave FaveroDeputy Cleanup Manager for Michigan

www.racertrust.org

MiscellaneousBuyers should be aware that:Cleanup dollars available and committed (SA Att. A)Liability protections available (SA 69). Seeking contractors as well:Statement of Qualification to allow apples-to-apples comparison: via website. Looking for companies that will hire local workers.No federal or state procurement rules.Letter of Intent on website.Offering Memoranda, reflecting community input, expected for first 20 sites in coming months.

Specific Input SoughtSite-specific development information requested (for website as well for offering memoranda).Coordination with RACER Trust on prospective purchasers. (Some entities that have proposed appear interested primarily or even solely -- in Machinery & Equipment and in demolition salvage (copper, steel, etc.)).

Comments/Questions