The TCI-owned land across from the Jackson Convention Center may soon belong to the city, depending on what action officials take.
The City Council voted yesterday in a special meeting to give city officials authority to take whatever actions needed to get the land from TCI. The Dallas, Texas, based developer owns four city blocks of parcels near the convention center and had proposed building a 16-story hotel complex there.
The council authorized city officials "to take any and all action necessary regarding loan agreement, loan modification agreement and any and all agreements, respectively, entered into with TCI MS Investment Inc."
The council decided to have a special session after an executive session during its regular Monday work session.
"A deal for a hotel involving public funds does not need to have one private developer owning the land," Councilman Quentin Whitwell told the Jackson Free Press this morning.
He called the TCI deal flawed for that reason and said he applauded the Jackson Redevelopment Authority for recognizing the flaw and rejecting bids from both TCI and newcomer Journeyman Austin Holdings last week.
"A second bidder (Journeyman Austin) came in at a lower price," Whitwell said. Even so, because of the land ownership, it was virtually impossible for any other developer to move forward with a hotel. Whitwell said that to put out bids the proper way, the city needs to have control of the land.
"Right now, hands are tied," he said. Whitwell stressed he wasn't committed to voting for any hotel deal or other connected actions until he sees the details of the deal.
Read our previous stories about the convention center hotel plans.
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