Incorrect answer:

NO. Authorization of the new campus and the location of the new campus was public information; anyone could have been smart enough to buy the ice cream shop is INCORRECT.

The elements of the crime of misuse of official information merely require that a public servant knows that the governmental unit that he or she is associated with is going to take a specific action and that the public servant acquires a pecuniary interest in property that may be affected by that action. The fact that the public also "knows" that the ice cream shop is in a location that is about to become more profitable, does not allow you, as a public servant, to buy the ice cream shop.

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