If voters approve this, does this mean that the City will automatically sell the land to MSUFCU?

No. This would authorize the City to sell the land to MSUFCU for $810,000. An actual sale would be subject to conditions, which would be negotiated as part of a Purchase & Sale Agreement (PSA). This agreement would need to be approved by both the East Lansing City Council and MSUFCU prior to a sale being executed. The City Council has requested that a draft of the PSA be created for their discussion and input at their discussion-only meeting on February 18, 2020.

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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?