The board of directors for the Hinds County Department of Economic Development voted 8-2 on May 30 to recommend the county reject a $17 million loan request from Old Capitol Green developer Full Spectrum. Full Spectrum planned to finance the construction of a parking garage for the project with the loan. However, the company did not submit required financial documents to the county as requested for over six months. The Board of Supervisors will decide whether to extend the loan to Full Spectrum.
Old Capital Green is a mixed-use development that is supposed to be environmentally friendly. The Mississippi Development Authority provided $20 million in funds originating from bonds to Hinds County. Hinds County in turn has the authority to lend the money to Full Spectrum to build the parking garage. Its not just any parking garage either - 800 spaces with robots.
Full Spectrum representative Malcolm Sheppard requested $13 million from the county earlier this year but increased the request to $17 million in May. He said the Jackson Redevelopment Authority suggested Full Spectrum obtain the additional $4 million from Hinds County instead of borrowing it from JRA. Mr. Sheppard said JRA would then purchase the garage after the new market tax credit period expired. Mr. Sheppard said consolidating the two loans into one loan would be cheaper for his company. No work has begun on the project although Full Spectrum said construction will begin in August.
The Hinds County Board of Supervisors voted in May to send a letter to MDA requesting the money to loan to Full Spectrum. However, the board stated in the resolution it would only do so if the developer provided the requested financial documents. The financial documents were commitment letters from prospective tenants as well as tax returns and audited financial statements for the last three years*. Sources tell JJ Full Spectrum provided letters of interest (which are not commitment letters) and other financial documents to HCDED. However, the agency declined to recommend approval of the request after further review of the financial statements. It is not known whether Full Spectrum did not present all of the documents or if the financial condition of the company withstood review by the board. The board discussed the project for over an hour in executive session before it voted to send a letter to Hinds County attorney Crystal Martin stating its recommendation.
Online records for the tax collector do not show Full Spectrum owns any property in Hinds County. Full Spectrum representative Malcolm Shepperd told the Supervisors Full Spectrum provided the financial documents to the Jackson Redevelopment Authority. However, sources at JRA and public records requests reveal no such documents were ever submitted to JRA.
*Audited financial statements are balance sheets and income statements provided by a CPA.
Old Capital Green Update
Old Capital Green needs mo' money but has no papers
Old Capital Green has not provided financial records
December Old Capital Green discussion at Hinds BOS on video
Thursday, June 14, 2012
Another nail in the Old Capitol Green coffin
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Trollfest '09
Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Trollfest '07
Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.
There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.
If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.
If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
27 comments:
But....they said they sent the financials...but, but, but....
There are 5 elements that contribute to the success of a downtown redevelopment. They are:
1) Waterfront
2) A large Fortune 500 company as an "anchor" with several thousand white collar jobs
3) A major university or hospital system
4) A sports venue
5) Public transportation system
There was a time 15 years ago when Jackson reached a tipping point. Had WorldCom elected to stay downtown -- and had it emerged as a successful company -- the Braves stadium may well have located there also. This would have given us two of the five elements to try to redevelop downtown. Generally, institutional investors look for at least three of the five before investing the BILLIONS that it takes to make a downtown flourish. Jackson has none of the five, and doesn't look like to improve on that score in the next 20 or so years.
You can file Old Capitol Green next to Farish Street and Harborwalk. There's just not the critical mass to support these projects. If Wall Street wont touch them, why should the taxpayers of Jackson or Hinds County?
Those five elements are impressive but don't compare to what we do have: The Stokes Twins.
The reason Worldcom pulled out was the ONE and ONLY Kenny Stokes who refused to go to the ground breaking. The reason the Braves went to Pearl was Harvey Johnson said he wasn't going to give a blackman $1,000,000 to bring them to Jackson. Pearl did and that's where they are. If you doubt this then just call Tim and ask him.
Wait a second. I remember the rest of the city council having a hand in the worldcomm deal. Weaver caught hell too.
Anon 9:00....If I remember correctly WorldCom left downtown because they needed a zoning variance to build their new headquarters. Stokes refused to show up for the vote (he was maybe the committee chairman or something) and so they never could get a quorum...or something like that. So WC shrugged their shoulders and cut a deal with Mississippi College. Can someone recall the details for me?
And if I were the Braves I wouldn't have located downtown either. With no major businesses, or corresponding entertainment district there, whats the point?
Who was the guy on the city council smoking dope during the breaks and trying to shake down the cable company? Maybe he and Kenny didn't get their due. I'm sure they were just following Jesse Jackson's playbook.
Sachmo.
I remember when Bernie announced the move to Clinton, Kenny blustered loudly: "We not gonna take dis!"
@7:30. I worked for a local developer several years back. While talking with a local business instrumental in trying to bring new development to downtown, their director told me that the Braves called the City several times to discuss the stadium idea and no one never would return their calls. Also how dare you make such a racist statement.."white collar jobs"..The city council would not go for that!
9:00 - what "blackman" (sic) got $1,000,000 to bring the BRaves anywhere? I remember Harvey being quoted as blowing off the Braves economic impact by saying "baseball is a white man's game" or something similar.
KF, I apologize right off the bat for being this stupid, but I don't get something.
the Hinds County Department of Economic Development
the Board of Supervisors
the Mississippi Development Authority
the Jackson Redevelopment Authority
Is it me or does this look strange to you too? 4 groups kind of approving this but not really approving it and each telling the other to go to someone else for the money.
At what point can one of these groups just say---this is stupid, stop. And which one of these groups has the controlling authority?
As with everything else involving Jackson, are most of you beginning to spot the trees of common denominator through the forest?
10:42, the black man's name is Tim Bennett. I met briefly with him one time about another business venture. He had (has) a company called Overtime Sports, and also owns (owned) a college baseball league called the Cotton States League.
While I never saw the money myself, the story that he got it has been around since the Braves got here. The only part of 9:00's comment that raised my eyes is the part about the source of the money. I have always been under the impression the money came from the Braves organization.
I have no idea what his situation is currently. The last time I saw him was about five years ago.
That would be Tim Bennett - He is now in the process of bringing a team to Gulfport - It will be at the new Port - Tim is a good guy and very knowledgeable - He just couldn't work with Haaavey -
9:16
Louis Armstrong. Another of our stellar current city employees. Atta boy Harv, great hire.
10:42 the money came from inside the City's employee benefit fund, which at that time had over a 1,000,000 surplus
10:42 the money came from inside the City's employee benefit fund, which at that time had over a 1,000,000 surplus
10:42 the money came from inside the City's employee benefit fund, which at that time had over a 1,000,000 surplus
Jerry: That's illegal.
Kramer: No it's not.
Jerry: Well, it's certainly against the law.
Kramer: Well, um..yeah.
Armstrong was re-hired by the City under the Melton regime. NOt defending Harvey, but will Bluntson or Lumumbo really do better?
4:14
Johnson has left that convicted felon in his position with the city. Thanks so much for setting the hire date straight without, of course, defending the moron that has been in charge of the city.
Why would the M Braves ever wanted to be in Jackson? It is quite a pit and all the druggies would have robbed everyone.
I hate to be the buzz kill, but no amount of money in the world will ever revitalize the downtown area.
8:35, I think the conversation with Jackson had to do with upgrading Smith Wills and putting the MBraves there. It got into a "give us what we want, or we'll go to Pearl...no you won't...yes we will...no you won't...yes we DID."
Did Maloney promise 'no credit check financing'?
This will get done, unlike Harborwalk. And to anonymous at 8:35 on June 14, hogwash! Lots of events happen in Jackson and no one gets robbed, shot, killed, etc. Stay away if you don't wanna go.
Eagle; What are those (lots) large events happening in downtown Jackson where no crime occurs concurrent with the event? And when you provide your list, remember you said 'lots'. Your admonition to 'stay away' has been answered. People stay away from Jackson in droves. Imagine walking to your car in Jackson at the end of an 11 p.m. ninth inning.
Shadowfax - quit picking on eagle, and just admit that no one has EVER been robbed or beaten after a game featuring Jackson's NFL team, Jackson's NBA team, Jackson's NHL team, or Jackson's MLB team. The massive crowds, made up of wealthy Mississippians who make these games possible, leaving after every game discourage the thugs.
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