Big boost for downtown Jackson project - MSNewsNow.com - Jackson, MS
JACKSON, Miss. (AP) - Developers of the Farish Street Entertainment District have taken the first step toward securing money needed to finish construction on the first block of the $100 million project in downtown Jackson.
On Monday, the Jackson Redevelopment Authority approved a non-binding agreement with Farish Street Group for a $10.2 million loan.
As collateral, developers would put up $11 million in historic tax credits that will be used to redevelop Farish Street, once the center of African-American life in Jackson. As those credits come in, the loan would be paid down.
David Watkins, Farish Street Group's lead developer, tells The Clarion-Ledger (http://on.thec-l.com/wogEdj ) the loan would be repaid over two years from the date a final agreement is closed with JRA. That closing could come as early as May.
Information from: The Clarion-Ledger, http://www.clarionledger.com
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Jefferson County Sheriff Peter Walker has identified the woman found dead in the cemetery of East Mount Olive Baptist Church Wednesday night.
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