Bond deadline looms
Jackson council set for hotel vote Monday amid rush to sell bonds
by Ted Carter
Published: December 18,2011
Tags: convention center hotel, Gulf Opportunity Zone bonds, Jackson City Council
A decision by Jackson City Council Monday (Dec. 19) to build a 16-floor, $96 million convention center hotel will hand Mayor Harvey Johnson a signature victory but a thumbs down from the council will give him a serious setback.
The city put the deal on a fast-track to enable proposed development partner Transcontinental Realty Investments Inc. to meet a Dec. 31 deadline for selling about $70 million in Gulf Opportunity Zone bonds. The post-Katrina recovery bond program expires at midnight on the last day of the month…
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