Will the City's general fund benefit from the potential sale of land?

Yes. The money for the sale of the property will be used for general fund purposes through appropriations by the East Lansing City Council. With regard to future taxes, although the East Lansing Downtown Development Authority captures the increase in property taxes and directs those dollars to improvements in the downtown, if the voters approve the sale and the project moves forward, the City’s general fund would benefit from any increase in personal property taxes and income taxes generated by the project.

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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?