What is the likelihood for Tax Increment Financing to be requested for the project?

At this time, MSUFCU officials have not requested Tax Increment Financing (TIF), However, if environmental contamination is found on the site during MSUFCU’s due diligence, it would need to be remediated as part of any development project. Depending on what might be found, if the voters approve the sale and if MSUFCU decides to move forward, the possibility exists that MSUFCU may request brownfield TIF at a later date. Any request for TIF in East Lansing is ultimately at the discretion of the East Lansing City Council. The City policy on the use of TIF clearly places an emphasis on environmental remediation and public infrastructure.

Show All Answers

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?