If voters approve the ballot proposal, what would it allow?

If voters were to approve the ballot proposal, it would authorize the East Lansing City Council to sell the land to MSUFCU for $810,000 for the purposes of developing a commercial office building that would be a minimum of five stories and a maximum of eight stories high. Approved uses are required to be commercial and cannot be residential.

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1. Where is this property?
2. If voters approve the ballot proposal, what would it allow?
3. How was the price determined? Can it be sold for more or less?
4. If voters approve this, does this mean that the City will automatically sell the land to MSUFCU?
5. If the voters approve this, does this mean that a project is approved for the site?
6. When will we see more information about the MSUFCU project? When are they expected to apply?
7. Will MSUFCU pay taxes on the new building?
8. Will the City's general fund benefit from the potential sale of land?
9. What is the likelihood for Tax Increment Financing to be requested for the project?