I can find nothing recent about the CFTB litigation against DRW for illegal trading. Months ago there was an article commenting on how long the judge was taking.
I would not expect this to factor into East Lansing government decision making. Ever since the Meadows faction hired Staton as city manager and gave him bonuses for development, the city’s ethic has been: give us your crooks, deadbeats, and cronies yearning for a free ride.
MEDC however has a legal requirement that any litigation be reported. Unfortunately it is almost impossible to find out whether MEDC has followed procedure or on what it bases its decisions. It has almost no transparency, one of the reasons eliminating it is an issue in the war between ethical Democrats and patronage Democrats. Any legitimate economic development can be accomplished with transparency and accountability.
DRW/Convexity seems to be far more professional and straight forward than the typical developers who have plagued East Lansing, including Harbor Bay. That does not exempt it from the illegal trading issue being discussed and taken into consideration by Council, the press, and the public. Even if resolved in favor of DRW, putting a stop to financial shenanigans is at the top of the agenda of the populist wing of the Democratic Party.
Also, remember the DRW/Core Campus folks got in bed with Strathmore doing a student rental deal for City Center II when the public was being told no student rentals. If a sophisticated outfit with enormous financial assets and legal team couldn’t figure out the risks, I have no sympathy, and taxpayers should not be on the hook for a reckless business decision.
Remember the principal for whom DRW is named is he of the four nannies.
Meanwhile I hear from friends who cannot sell their East Lansing houses for enough to afford somewhere less than half the size in a preferred retirement location.
– Eliot Singer