State passes cemetery ownership to Sharp

by

Published: November 15,2010

Tags: cemeteries, state government

VICKSBURG — The Secretary of State’s Office officially transferred the deed to Green Acres Cemetery to Harry Carter Sharp Nov. 12, completing the sale of the cemetery back to private ownership.

“When our agency was first named as receiver of Green Acres, our outlook for this property was dismal at best. However, thanks to the hard work of our staff, we have completed our goal of placing the cemetery into credible, private ownership,” says Secretary of State Delbert Hosemann.  “Harry Sharp did a tremendous job of rehabbing Green Acres as co-Receiver of the cemetery and will no doubt continue his good work as owner of the property.”

In March 2009, the Secretary of State’s Office was appointed as receiver of Green Acres after the cemetery’s trust account was found to be deficient of approximately $375,000. In addition to the trust deficiency, there was also a $2.2-million bank debt against the property secured by a deed of trust.

The Secretary of State’s Office was able to release this debt on the cemetery at no cost to the state.

Sharp’s successful bid on Green Acres included: $135,000 in cash payment; 10 percent of the pre-tax profits of the cemetery up to $100,000; approximately $51,000 in improvements to the existing facilities; and, a 30 percent discount on memorials, opening charges and vaults.

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

FOLLOW THE MBJ ON TWITTER

Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Top Posts & Pages

%d bloggers like this: