Last summer, ELi broke details about an agreement the city reached to sell properties on Evergreen Avenue, land that the Downtown Development Authority acquired $5.6 million in debt to purchase, debt that has now been twice refinanced.
Over the course of more than 15 years, the properties have cost the city millions of dollars, a figure that will continue to grow even after the sale becomes official.
The city paid more than three times the value of the four parcels because it had hopes of steering a development in the area, according to previous reporting from East Lansing Info.…