Home » Tag Archives: HUD

Tag Archives: HUD

BREAKING: Chancery order voids Watkins’ $4.7 million Farish lien

Farish Street_SHELLS_feature_rgb

Remember Jackson’s Farish Street? It’s back in the news with a Chancery Court summary judgment issued Thursday invalidating a $4.7 million lien developer David Watkins put on the buildings along the first block of Farish Street after the Jackson Redevelopment Authority booted him from a stalled effort to remake the block into an entertainment and dining district. The JRA gave ...

Read More »

Distressed mortgage borrowers get 6 extra months under new HUD rules

Stack Of Cash

By TED CARTER Homeowners who have fallen significantly behind on their mortgages are getting six additional months to stave off foreclosure, thanks to a new mandate from the U.S. Department of Housing and Urban Development. HUD, in rule changes announced last Friday, is requiring servicers of Federal Housing Administration-backed loans to delay foreclosure for a full year and to evaluate ...

Read More »

COMMERCIAL FINANCE 701: Permanent loans & other oxymora

  A n oxymoron – a clever figure of speech that seemingly contradicts itself – can be pretty amusing.  Jumbo shrimp.  Postal Service. Justice Ginsburg.  Devout atheist.  Unbiased opinion. One of our favorite finance-related oxymora is PERMANENT LOANS.  Our partner Roger Williams leads an active practice group specializing in permanent loans for multifamily properties.  But don’t be duped.  Permanent loans ...

Read More »

JRA plans image makeover, hires crisis manager

The Jackson Redevelopment Authority has conceded it has an image problem and is getting professional help to fix it. The agency widely known for the low priority it puts on transparency wants a makeover in public perception. It’s hired Yellow Brick Media Concepts of Jackson to provide it. The board received a proposal from Yellow Brick principal Kathy Times for ...

Read More »

Watkins says JRA out to block him from Farish by repaying HUD $1.5M

Former Farish Street developer David Watkins says he suspects bad faith motives are behind the Jackson Redevelopment Authority’s agreement to cover a $1.5 million repayment the U.S. Department of Housing and Urban Development has demanded from the City of Jackson. Watkins says the motive is clear to him:  Paying HUD could clear the way for the JRA to get a ...

Read More »

OUR VIEW: Why no introspection on causes of HUD trouble over Farish St.?

Raise your hand if you are surprised by the U.S. Department of Housing and Urban Development’s conclusion that redevelopment of downtown’s Farish Street has been the least of Jackson City Hall’s concerns the last decade and a half. Seeing no hands, let us proceed. Cause-and-effect is a good place to start. Remarkable indifference, professional carelessness and unaccountability are going to ...

Read More »

David Watkins demands HUD retract claims made in Farish project report

Watkins Development’s David Watkins is demanding the U.S. Department of Housing and Urban Development retract negative characterizations it has made about him and his partners regarding their involvement in the redevelopment of downtown Jackson’s Farish Street. The angry reaction from Watkins stems from a Sept. 7 monitoring letter to Jackson city officials detailing what says are years of failure by ...

Read More »

UPDATE — David Watkins says JRA left him in dark about HUD's Farish St. involvement

By Ted Carter Farish Street Group principal David Watkins says he feels blindsided by the U.S. Department of Housing and Urban Development’s suspension of Farish Group from further involvement with HUD-funded projects. Watkins’ Farish Street Group until last October had a lease deal to transform downtown Jackson’s Farish Street into an entertainment district. He said that until Thursday, he did ...

Read More »