In the proposal, CMSD would forego roughly $121 million in tax revenue for the next 30 years. In exchange, the district would receive $18 million payout up front.
If the plan is not accepted, the project could fall through.
CMSD CEO Eric Gordon said if the $18 million is used for capital projects like new schools, it could qualify for $38 million in matching dollars from the state. That's money that could be used immediately to fund new buildings or could collect interest instead.
Parents and taxpayers weighed in during a series of public meetings this summer. According to the results of an online survey conducted by CMSD, nearly 58 percent of 209 respondents are giving the deal a green light.