YPSILANTI, MI - Voters in Ypsilanti have approved a millage to pay off debt related to the Water Street Redevelopment Area, after rejecting similar proposals in past elections.

There were 1,517 votes in favor of the proposal, or 63 percent, and 867 votes against the proposal, or 36 percent, of 2,385 total votes cast.

Of 15,951 registered voters, about 15 percent, or 2,384 eligible Ypsilanti residents cast ballots in the August 8 election.

Here's how the vote broke down in Ypsilanti's 7 precincts:

Ward 1, Precinct 1- 28 yes, 72 no

Ward 1, Precinct 2- 125 yes, 92 no

Ward 1, Precinct 3- 87 yes, 75 no

Ward 2, Precincts 1, 2 and 3- 716 yes, 365 no

Ward 2, Precinct 4 and Ward 3, Precinct 1- 56 yes, 15 no

Ward 3, Precinct 2- 219 yes, 130 no

Ward 3, Precinct 3- 286 yes, 118 no

The 2.3-mill proposal targets the issue of debt related to the Water Street Redevelopment Area, a 36-acre property located in the heart of Ypsilanti that the city purchased for redevelopment, but has had issues with contamination on the property.

It was the only item on the Aug. 8 ballot for city residents, who went to polling locations in the 10 precincts in Ypsilanti.

Here is the language of the approved millage proposal:

"Shall the City of Ypsilanti be authorized to pledge its unlimited tax full faith and credit for payment of its Limited Tax General Obligation Refunding Bonds, Series 2016A (Taxable), which are outstanding in the principal amount of $7,405,000 payable through 2031, which were issued for the purpose of financing and refinancing capital improvement costs relating to the Water Street Redevelopment Project?

"The estimated millage to be levied in 2018 is 2.30 mills ($2.30 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 2.3 mills ($2.30 per $1,000 of taxable value)."

A mill is a property tax of $1 for every $1,000 of taxable value, so a 2.3-mill tax would amount to $115 in annual taxes for the owner of a home with a $100,000 market value and a $50,000 taxable value.

The millage would end in 2031, or earlier if the debt plan has been paid off.

Last August, voters turned down a similar 2.3 millage request by a margin of 39 votes. A larger levy proposal of 4.94 mills, that would have included a city income tax, was also turned down in 2012.

City officials announced in June they are working with a foreign investment company that has proposed a huge residential and retail development on the property designed to attract immigrants, primarily from Asia.

The project proposal is a $150 million to $300 million mixed-use residential and retail property with an Eastern-inspired structure and philosophy. Up to 3,000 people could live at the site called International Village.