Home » NEWS » Economic Development » Agency to get $9M loan to fund city’s part of hotel project

Agency to get $9M loan to fund city’s part of hotel project

JACKSON — The Jackson Redevelopment Authority will get a $9 million loan to help fund the city’s portion of the downtown Westin hotel project.

The Clarion-Ledger reports the agency will borrow the money from investment banking firm, Siebert Brandford Shank & Co., L.L.C. The agency put out a request for proposals from investment firms after there were no bids on the city bonds and received five proposals.

JRA Chairman McKinley Alexander says Siebert Brandford Shank offered the best and lowest bid to finance the project.

Developer Joseph Simpson of Capital Hotel Associates, which is developing the project, says it’s moving ahead as planned.

Hinds County Supervisor Peggy Hobson Calhoun said the goal is to have the hotel in operation for the Southern Legislative Conference, scheduled for 2017.



… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press

Leave a Reply