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Author Archives: Ted Carter

Convention center hotel proposals ask for $41M in loan support

By TED CARTER Two of the three convention center hotel proposals presented to the Jackson Redevelopment Authority rely heavily on public-sector backing for development loans, though both forgo asking for direct financial contributions from either the City or JRA. A JRA-appointed review committee will look over the proposals and recommend a developer to the Authority in time for a selection or ...

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SBA event offers business owners, entrepreneurs sit down time with lenders

By TED CARTER Small-business owners and prospective entrepreneurs can meet face to face with more than two dozen lenders, including Mississippi’s major banks, on Aug. 11. The Small Business Administration Mississippi District Office and FDIC are co-sponsoring the Meet the Lenders: “A Small Business Borrower/Lender Match-Making Event” from 9 a.m. to 1 p.m. at Hinds Community College’s Clyde Muse Center in ...

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ACLU-MS gets $1 million to address ‘disparate’ school disciple

From Staff The American Civil Liberties Union of Mississippi Foundation (ACLU-MS) received a two-year $1 million grant from the W.K. Kellogg Foundation to address “excessive discipline” of African-American boys in schools. The Kellogg Foundation and ACLU-MS say they want statewide standards for school discipline that ensure that the codes of student conduct in Mississippi’s school districts meet basic standards of ...

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

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 ...

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BancorpSouth Q2 earnings highest since 2008

  Daily Journal TUPELO – BancorpSouth Inc. notched its most profitable quarter in seven years, posting second-quarter earnings of $39.7 million, or 41 cents a share. The results were 6 cents higher than consensus estimates, but revenue of $181.62M, while 5 percent better than a year ago, missed estimates by $1.73 million. Still, the EPS for the quarter ended June ...

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Downtown Jackson Westin plans Aug. 4 construction start

By TED CARTER The newest entry to downtown’s Jackson’s hotel market, a 204-room Westin, will break ground at 9 a.m. on Aug. 4, developer Joseph Simpson says. The $60 million hotel is planned for 315 Tombigbee St. at the site of the vacant Mississippi Valley Title building. Project funding includes $10 million in urban renewal bonds issued by the Jackson ...

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BancorpSouth’s stalled acquisitions may signal new hurdles to bank M&A nationally

  By TED CARTER Bankers nationwide worry that regulators have significantly raised the bar for merger-and-acquisition approvals after regulatory snags caused back-to-back delays in BancorpSouth’s acquisitions of banks in Louisiana and Texas. The Wall Street Journal noted in its MoneyBeat column July 1 that while the two deals are relatively small, “the delay is notable because it may play into bankers’ ...

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Virginia company proposes 8-floor Jackson Convention Center hotel, parking garage

By TED CARTER A Herndon, Va., company that specializes in public-private development partnerships is proposing an $83.6 million, 302-room Jackson convention center hotel with a 1,000-space garage. Red Leaf Development says it can do the project without direct contributions from the City or Jackson Redevelopment Agency, though $41.8 million in borrowing will be necessary, either through a conventional loan backed by ...

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