East Lansing Info (https://eastlansinginfo.news/tag/center-city-district/)
One week away from a $2.4 million shortfall for the payment due to the bondholder, many questions remain unanswered. Not least, the $6 million question. ELi’s Alice Dreger reports.
The lone dissenter, Council member Lisa Babcock, objected to the developers’ “hostage-taking” tactics and “the pigeon driving the bus.” But she was outvoted as the rest of Council found it problematic to insist the under-55 tenants be evicted.
Tuesday night’s Council meeting confirmed a lot of what ELi has been reporting about the Center City District bonds. What did we learn?
A new and scorching message from Mark Meadows and a response from Miller Canfield to his claims: the latest in the Center City District bond scene.
A new review by ELi of prior meetings on the subject finds yet more evidence that this matter won’t be simple to sort out. See the key video clips now.
Experts are describing the Center City District bonds as “hairy” and having “sharp edges.” What’s so weird about them? Alice Dreger unpacks it for you.
A Freedom of Information Act request from ELi yielded a cache of informative documents regarding the Center City District and Newman Lofts. Andrew Graham unpacks them.
Here’s a comprehensive timeline of East Lansing’s Center City District redevelopment, beginning with the press conference where it was announced.
Why is East Lansing’s government poised to take on as much as $4.4M in debt when it doesn’t have to? The execution of the Center City District deal continues to baffle even experts.
Now debates over the Center City Bond are heating up, as staff say the BRA is in danger of default, and Mark Meadows says it’s the developers who owe the shortfall, not the public.
Steve Willobee came asking for accommodation long before Covid-19, says former mayor Mark Meadows. Now the City has issued violation notices to Harbor Bay, requiring the tenants of the four illegal rentals be moved out.
Mark Bell and Steve Willobee confirmed to Council on Tuesday night that they have rented four units to people under the 55+ age restriction. This violates local law, the development agreement made with Council, and the building’s permit.
“They need to abide by the terms of this agreement,” twenty-two tenants tell City Council about the Center City developers. Popular opinion appears aligned with the tenants.
In 2017, the developers were confident they had a viable project. Now they say they need Council’s help. Andrew Graham reports for ELi.
“We will continue to operate under the conviction that extraordinary actors in our city require extraordinary scrutiny. Especially when they are seeking the taxpayers’ money.”
“I’ve heard the complaints from Harbor Bay,” Council member Lisa Babcock tells ELi. “It looks like they’re having a terrible, horrible, no good, very bad day.”
East Lansing’s Brownfield Redevelopment Authority learned a lot more this week about the $25M existing bond and voted to get a financial advisor before committing to a refinancing proposal.
A special meeting of the Brownfield Redevelopment Authority has been called to deal with major questions about what the City really owes the developer in taxes on the Center City District deal.
Is East Lansing’s Brownfield Redevelopment Authority (BRA) about to accidentally issue over $2 million in essentially worthless bonds?
The developer came well armed with representatives, but the City went in with no financial advisor to this deal. Its usual advisor is actually being paid with public money to represent the developers.
The Bell family of developers is back. What new Center City District public financing deal will be made with them this time? ELi’s Alice Dreger reports what we know.
A rep for Barrio’s says that restaurant will reopen if Albert Ave. is closed off for outside take-out dining. But Jolly Pumpkin won’t open before Labor Day.
What’s happening with Newman Lofts, police oversight, big downtown construction, and more? ELi brings you up to speed.
East Lansing’s Mayor and Mayor Pro Tem are willing to consider converting the senior housing to some other uses.
Many predicted this would happen, but few expected it so soon. What now?