Jackson Jambalaya

And then there's this, according to the CL:

"The documents show that the advisers receiving funds from TCI are:

•Malachi Financial Products Inc., which has served as a financial adviser to the city."

My, my. What a tangled web we weave.

Bond Daddy Porter was in town this week advising the Mayor. Santa delivering gifts early?

And Jackson wonders why the place is falling apart. How is this legal? Where are the Feds?

It would appear that the leadership is going to extract as much as they can before they sink the ship.

Hold on, gun-jumpers. Harvey said he would 'put on the brakes' if he needed to and Crudup, a man of the cloth, said he would 'never participate in anything illegal'. So.....at ease troops!

Huh? Did you read the proposal? It is what was described in the article. So the choice is a 99% leveraged company vs. diversely funded profitable company?

What are you smokin'?

Kingfish, please check the price of comparable projects in other cities. I don't know many of the details of this project, but I was told that the number of rooms is approx 300. Using that number and dividing into the $90 million gives $300,000 per room. Just a rough number but it would be an interesting comparison to a similar calculation of hotel projects in other cities. I just don't think this project makes economic sense.

Reading the title and the docs, you would know it is 304 rooms at a cost of $75.5MM and using a calculator you get $248,355.00 - nice try.

If you want a Motel 6 you will wind up spending $50k per Corporate room at an average rate of $54.00. Your B/E room nights is 926 nights

Using a little algebra, if you charge $195 to $295 per night (average for convention hotel room) you come up with $273,170 cost per room, more than this current bid is proposing and less than the TCI deal.

Given Motel 6 has Kept the Lights On for quite some time, I believe their ratio is probably a good estimate.

10:13,

Per the last sentence of KF's write up:

The TCI bid requires the sale of $90 million in Go Zone bonds.

-Nice try.

This areticle is about an alternative bid to the TCI bid of $90MM. See my previous post regarding Motel 6.

While it's cute to discuss the alternative bid, I think we all know what is going to happen here....TCI will get the project, the taxpayers will get screwed, and somebody's palm will get greased.

If you honestly think it's worthwhile dissecting the alternative bid, go ahead. It's only value is that it isn't TCI. It's filler. That's it.

Funny, but both were just rejected. Hmmmm. You think you know it all, huh?

Such angry little farts! Hell, it's Friday. Go buy a steak and take it home tonite. Maybe you'll get lucky.

10:07 was directed to the 90 mil bonds, not the competing proposal that will disappear-the actual room count is 309--how does that stack-up against other hotels. Seems very high to me. What would the rack rate be for a hotel that would have to support $291,000+ rooms?

12:32, what an angry little wuss. Hell, it's Friday. Take it up to Southaven, maybe Greg Davis will be around for you to get lucky.

It's very simple this cities population doesn't warrant a convention center.... A hotel.... Or any heavy spenders to come and visit it...

But meople. The creative class needs life downtown in order to be, well, the creative class. Otherwise, as The Prophet warns, Jackson will experience severe drought, pestilence and lose another congressional seat.

I've been thinking about this a lot today. Congrats KF on shining a light into the farce called "lets get GOING" with a a GoZone bond.

In the end, truth, facts, and hard work pay off; I'll let the song speak for itself.

Oh, and yeah, martinis are great.

I would prefer to take the money and try to save just one precinct in the city. Overloaded with qualified police with generous pay and its on brand new jail and court... Let the rest of the city keep choking on its liberal puke and save one precinct and I don't care which one just let us know

Meople that is what one might call rational thought. I commend you for putting that reco out there. You are right, there are very qualified police out there and they would chomp at the bit to save their precinct.

Screw your "prophet" 8:28.

We've got raw sewage pouring into Purple Creek and a water/sewer system collapsing beneath our feet. (Not a peep out of the JFP Harpy.)

We don't have the time or the money to pay for the second-coming downtown circle jerk being pushed by pollyannas like Ben Allen.

Shadow, I didn't approve your comments because you started accusing me of commenting under other names. I don't do it and every time you pull that crap, the comment will not be approved. Don't like it, deal with it.

With what King Harvey inherited development wise, it is amazing that NOTHING has been accomplished. Compared to 4 years ago, downtown is DEAD.

This project is now squarely in his lap. Set your clock.