I hope you don't mind @geaux_sioux but I've updated your first post to reflect the recent commits. I'll try to keep up until Jim gives you the authority.
The Legacy Fund was established by vote of the state's residents. Personally I like the current idea of using the investment income from it to buy down and eventually eliminate residential property taxes.
Ndsu is given $100 million by the state for ag research and extension. UND gets $0 from the state specifically for med research. When federal grants require matching funds, it makes a difference.
Since they're going up everywhere these days, this could be a great location for a senior living facility if UND isn't going to use it. College athletics, other events, and workforce all nearby.