Monday, January 11, 2016

Airport makes deal with Freedom Real Estate

The Jackson Municipal Airport Authority issued the following press release:

Jackson, Miss. – At the Special Meeting of the Board of Commissioners for the Jackson Municipal Airport Authority held last month, the Board voted to enter into an Option to Lease agreement with Freedom Real Estate, LLC, a Mississippi limited liability company. The Option gives Freedom up to 270 days to decide whether to lease up to 130 acres of property owned by the Jackson Municipal Airport Authority.

Freedom Real Estate, LLC approached the Jackson Municipal Airport Authority and ultimately submitted an unsolicited proposal for an exciting opportunity for the Airport, the City of Flowood and Rankin County. The proposed commercial and retail development project also includes, but is not limited to, clothing and apparel, sporting goods, restaurants, jewelry, household goods, and banks. The Project site is bound by Lakeland Drive on the north and Airport Road to the west, excluding the Parkway Shopping Center.

The proposed project included financing components that are time sensitive and necessitated an expedited evaluation and decision by the Board of Commissioners for JMAA to move forward with the Option to Lease Agreement.

Manager and principal owner, Ron Harvey, Jr. is a graduate of Jackson State University and the Mississippi State University School of Engineering.

The Jackson Municipal Airport Authority is not selling but only leasing the land to Freedom Real Estate. Since the Project is not that of the JMAA but rather is that of Freedom Realty, the developer will assume all risks of the development.

To date, appraisers have not yet been identified or hired in that Freedom Realty presently has only an Option to Lease the property. Freedom Real Estate has not decided to exercise that Option. If and when Freedom decides to exercise that Option, JMAA will hire appraisers to determine the fair market value of the property for lease.
All phases of the Project, including the so-called “assessment phase” will be financed by Freedom Real Estate, LLC. It is Freedom’s Project. The Jackson Municipal Airport Authority will essentially be Freedom’s landlord.

Kingfish note: Now where have we heard of this company before? Oh yes, Freedom applied for a $48 million sales tax rebate from MDA.  They will also be using a $7 million TIF.     See page 35 in this post.


Anonymous said...

No way this happens. No how. Goodbye JMAA. The full weight of Rankin County Republican heft is about to shit on your head.

Anonymous said...

Is this where the flowood wine sto is going?

Anonymous said...

You'll know Jacktown is about to lose the airport when JMAA starts churning out these deals more frequently than arrivals and departures at ATL.

Anonymous said...

The scam is to lease the land so that Jackson can try to lay claim to the sales taxes generated. What is crazy is their thinking that they could get away with it.

Anonymous said...

1.Freedom's application was for land much further east than the airport property- I am sure MDA will not approve a change at this point.

2.JMAA received some fine legal advise on issuing this option- I am surprised it was never advertised for competitive proposals...cant imagine Mr Walker not recommending that.

3.Mr Fish- can you get a copy of this here option the next time you are getting all your FOIA request done?

Anonymous said...

Pretty bright really.

State wants to divest Jsckson of the airport?

The governing board ties up all the real estate for decades.

Thats good thinking

Anonymous said...

Just wait till stokes and associates start uses the R card by claiming the Republicans want to change the airport name....this will stoke (no pun intended) the flames, rally their base and get naacp involved. It's a coming...... get your popcorn ready.....

Survey This said...

'Bounded by Lakeland to the north and Airport Road to the West'. My God! What a stupid description. That's roughly ten thousand square acres.

Anonymous said...

the national trend is for surrounding communities to supply more funds for the always broke and soon to be bankrupt cities they rely on for medical services and culture. the same big government politicians who want a regional airport will do all they can to cut state funding and push the burden somewhere else. we are in the midst of a long slow economic death the current political process is unable to address. bad timing for Mississippi to be a federal government dependent welfare state.

Anonymous said...

Another attempted left wing conspiracy, which the Jackson mayor and city council were not doubt apprised of. They're pissing on the publics back, and calling it rain.

Anonymous said...

"2.JMAA received some fine legal advise on issuing this option- I am surprised it was never advertised for competitive proposals...cant imagine Mr Walker not recommending that."

So you're saying a couple of personal injury attorneys HAVE NO IDEA WHAT THEY'RE DOING????? Shocking indeed.

Anonymous said...

Change the name to "Mississippi Barbour-Evers International Airport," put up some billboards around Jackson announcing the change, and watch Stokes's head literally explode.

Sounds like a win for all concerned.

Anonymous said...

Just another reason the state is trying to grab the airport from Jackson. No doubt Flowood and Pearl do not want the sales tax competition. Phil also wants Butler Snow to be the bond attorneys. After all, they employed his daughter for a few years until Phil pushed her on the new Board of Supervisors in Madison County.

Anonymous said...

For the harpie at 9:14: Didn't you get it out of your system on multiple Madison County threads the other day. Still purging?

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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.

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