Jackson Free Press

The Jackson Redevelopment Authority is holding a special meeting this morning to consider entering into a memorandum of understanding with Farish Street developers.

The Farish Street Group requested an $8 million loan from JRA in November. At the time, the JFP reported that development had stalled due to financing obstacles.

Developer David Watkins asked for the loan to finance buildouts in the historic district so that clubs and other tenants could move in, but some JRA members have expressed concerns that the district might not make money fast enough to pay back the loans.

Previous Commentsshow

Don't worry about the broken sewer system, horrid roads, or fleeing tax base...let's approve loans to build a restaurant!? What ever happened to securing private investors? I really hope Jackson isn't the next Birmingham/Jefferson County.

RobbieR

Mar 6 2012

JRA approved a non-binding agreement to loan Farish Street developers $10.2 million: http://www.jacksonfreepress.com/index.php/site/comments/jra_approves_10.2_million_farish_street_agreement_03062012/

lizwaibel

Mar 6 2012

There have been tons of complaints about the Farish St. Project. Many questions have been asked over the past few years "When are they going to do something" or "when are they going to finish" - are most common. Now that the Watkins Group has come up with a plan that just MIGHT get approved - the game is changing. Do you think that IF Farish St. becomes a flourishing entertainment district, the City of Jackson will reap some future monetary benefits? A government is suppose to be able to have more than one focus: Our sewer system is being improved; street/roads are being repaired using the formula: Worst - FIRST; the tax base leaves because some people say that Jackson is not a safe place to live; however, it continues to be a safe place to WORK. (What a dichotomy) We must begin a campaign to speak more positively about our CITY. If you need some talking points, sign up for the PRIDE RIDE. Many new businesses are apprearing in Jackson, proper. Also, there are folks who left, but, there are others who have come. Thank you. This CITY does not have many of the severe financial problems that other cities are experiencing and I am comparing this CITY to others around the country of similar population and size. This fact is a direct result of positive goverance of the Johnson Administration. Have you ever wondered how some families in your community did so much better - even when their income was much less than others? Management Child - Management!

justjess

Mar 6 2012