County to buy abandoned warehouse, industrial property
by Associated Press
Published: April 29,2013
NATCHEZ — Adams County has agreed to buy a 450,000-square-foot warehouse at the Natchez-Adams County Port.
County board of supervisors President Darryl Grennell says the warehouse will help economic development in the area.
The warehouse on the Mississippi River houses products loaded on and unloaded off barges. The port has operated the warehouse for Valley National Bank since the bank foreclosed on former owners in February 2012.
The county agreed to buy the warehouse for $2.5 million in 2015, with the Southwest Mississippi Planning and Development District acting as an intermediary. Once county lease payments pay off the debt, the county will own the building.
The county will use the proceeds from the port’s operation of the warehouse to pay the debt.
In a separate item, Adams County has signed a $9-million agreement to buy the former International Paper property from Rentech, and local economic development officials say they are working with five potential clients to keep the property in taxable hands.
The Natchez Democrat reports Rentech’s board of directors ratified a sale agreement for the 478-acre property Monday.
Natchez Inc. executive director Chandler Russ said the property had to be purchased as a whole unit because Rentech was not interested in parceling it off.
Russ says Natchez Inc. is now working with the competing bidders about the use of the property, and five potential industrial clients are interested in the property in some fashion.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- George’s Girls put shopping skills to work
- DMR pays accounting firm more than double contract's worth
- Following ruling, Entergy to hand over records to county
- MSU Foundation names five new members
- Crowded field lines up for Jackson mayoral election
- Another fiberhood qualifies for C Spire 1-gigabit Internet service
- Justice Department files complaint against tax preparer
- Cochran questions nominee concerning Stanford ponzi scheme
- Report: State's emergency care ranks highest in Southeast