bond Archives - Public Response

Center City District bond and TIF update // Alice Dreger

July 13, 2020

There’s good financial news emerging on the Center City District project — the strict cost-control measures put in place by now-Mayor Ruth Beier and her colleagues on Council in 2017 turn out to be stricter than we had realized. In 2017, the TIF was effectively reduced by Council from a $56M cap to a $50M cap!

Combined with the new valuation method from tax assessor David Lee for big apartment buildings, this means that the Center City TIF will pay off years earlier than … Read more →

We Were Outgunned // Alice Dreger

July 10, 2020

What happened at the BRA yesterday? ELi has my report up , but I would sum it up this way:

We were outgunned. And we were paying for the other side’s weapons.

What my reporting team saw yesterday is what we see at so many meetings. People representing our side – in this case, BRA members Jim Croom, Jeff Smith, and Aaron Stephens – ask really reasonable questions and express reasonable skepticism.

But then, in the end, they vote “yes” without adequate protections for us. In the fog of … Read more →

Letter to the Brownfield Development Authority // Alice Dreger

July 8, 2020

I have steadily reported for East Lansing Info on the Center City District project from the day it was introduced, on many occasions with my colleague Chris Root. We have spent a lot of time using FOIA to document what has happened (and not happened) with regard to the public financing of this project. Today I sent the attached letter (below) to the Brownfield Redevelopment Authority about their meeting which happens tomorrow (Thursday, July 9) at noon. I share it with readers of Public Response … Read more →

East Lansing City Bond Attorney // Eliot Singer

July 7, 2020

I see in ELi that some members of Council are (finally) questioning the continued use of the bond attorney. I would add, they also need to get rid of Baird as the city’s bond agent.

Better yet, time to stop allowing DDA/BRA to issue bonds and to stop allowing the city to issue bonds unless approved by voters. Just a reminder, the DPW building was built without voter-approved bonds (with cost overrun) after voters were promised, in approving sale of the old building, there would be no … Read more →