You can now possess small amounts of marijuana in this Michigan town, legally.

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No matter what, marijuana is not legal on a federal level so, if the feds wanted to arrest you even though it's legal in your area, you're S.O.L.  And it's the same with the state of Michigan:

State law still considers the use or possession of marijuana a misdemeanor, punishable of up to one year in jail. - Detroit Free Press

According to Detroit Free Press, East Lansing has made it legal to possess less than an ounce of marijuana on private property.  Obviously, you have to be over the age of 21, and if you're caught partaking underage, there's a $25 fine along with community service or a substance abuse course.

The new law does not affect Michigan State University’s campus, where marijuana possession is still illegal.