What’s up with plans for a convention center hotel in downtown Jackson?
The Jackson Redevelopment Authority has made clear its desire to hire Engineering Design Technologies and Mississippi Developers to create a $75.5 million hotel across from the Jackson Convention Complex on Pascagoula Street. But the commission still needs to vet the company to determine if it has the financial capacity....
The JRA projects committee voted Tuesday to notify the city of its decision to hire EDT and Mississippi Developers, despite the company having not been vetted by an outside consultant. Both votes will need to be approved by the full JRA commission Wednesday.
Commissioner Jennifer Johnson, who abstained from the vote, has cited concerns with the proposal, including the company’s financial capacity to finish the job.
Alexander claims that one of the greatest advantages in the EDT proposal is that the company claims it does not need any financial backing from the city or from JRA, yet Johnson notes that EDT’s financial arrangement includes an $11.3 million “JRA/City Loan.”
“They have not explained this discrepancy in writing,” Johnson wrote in a February statement.
Johnson also said EDT suggests it will receive $3.8 million in New Market Tax Credits but has not shown evidence that it is in line to receive those credits. She also suggests EDT has not proven it has necessary experience or completed a similar project. Rest of article.
There is more information about the companies vying to build the hotel in this 2015 Mississippi Business Journal story. Very interesting stuff.