Capitol Green developer criticizes board decision - MSNewsNow.com - Jackson, MS

Capitol Green developer criticizes board decision

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By David Kenney - bio | email
JACKSON, MS (Mississippi News Now) -

Hinds County officials decided not to help finance the Old Capitol Green project this week, and Now that developer is speaking out.

Monday The Hinds County Board of Supervisors voted to back away from a $17 million  commitment, to provide state bond money to fund construction of the Old Capitol Green project.

The developer, Full Spectrum, was slated to receive those funds to begin construction on a multi-level parking ramp, located at the old Trailways bus station.

County officials say they failed to provide detailed information on how they planned to pay that money back.

In a press release today, Full Spectrum said it has now lost $3 million, and six years of development because of the supervisors decision.

They say $52 million in private investments into the project is now in jeopardy.

The developers also say the city will now lose over 1,600 temporary construction jobs, and 426 permanent jobs, by halting the project.

Hinds county Supervisor Kenneth Stokes says the boards decision will cause the Old Capitol Green project to slowly die.

Copyright 2012 WLBT.  All rights reserved.

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