Finance and Taxes

Facing Project Delays, Center City Contractor Will Use More Land

Monday, June 18, 2018

Christman Company, the lead contractor for the Center City District project, says there have been "some pretty significant delays." The company considers it a "huge win" to be able to rent public land across Abbot Road for $1,500 per month to relieve construction traffic congestion.

Ask ELi: What Is a “Road Diet” and Does It Make EL Safer?

Wednesday, June 6, 2018

East Lansing's City Council recently approved another section of Harrison Road for a "road diet." Transportation Commission member Thomas Baumann explains for ELi readers what this means for drivers, bikers, and walkers.

What Design Changes Did the FHT Recommend for the East Lansing’s Pension Plans?

Saturday, May 19, 2018

East Lansing’s Financial Health Team (FHT) was aware that the City had already changed from defined benefit to hybrid plans for new hires in many employee groups. These new hybrid plans began in 2010 and 2011, and 125 City employees had been enrolled in these plans by December 2016. (This already represents 47% of the total of the 268 current employees who are participants in the City’s retirement system.)

East Lansing’s Council Decided Issuing Bonds to Reduce Pension Liabilities Is Too Risky

Saturday, May 19, 2018

East Lansing’s Financial Health Review Team (FHT) recommended that the City Council consider having the City issue $30 or $40 million in bonds in order to make a lump-sum payment into the pension funds, thus reducing its unfunded liabilities. The goal would be to make the City’s annual required payments more manageable and more stable. Of course, by issuing bonds, the City would incur interest payments for the duration of the bonds.

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