Author Archive

CFPB wants repay ability at center of new payday loan rules

By TED CARTER Drawing from a doctrine applied to new rules for residential mortgages, the U.S. Consumer Financial Protection Bureau is proposing that payday lenders verify a borrower’s ability to repay before making a short-term, low dollar loan. Payday lenders now require that borrowers have both a source of income and an active checking account. But […] [...]

Terminal upgrade on indefinite hold at Jackson International Airport

By TED CARTER Jackson Medgar Wiley Evers International Airport has shelved indefinitely a nearly $40 million renovation of its terminal and security check-in stations. Behind the project’s axing is management’s conclusion that the airport’s best fiscal strategy for the moment is to make money rather than spend it now and hope for a future payoff. […] [...]

Judge OKs Westin funding, cites ‘public purpose’ in tax money as debt collateral

by Published: April 21,2015

Tags: Business, Don Hewitt, Hinds County, JACKSON, Mississippi, NEWS, Westin

By TED CARTER Hinds Chancery Judge William Singletary on Tuesday approved allowing $10 million of Jackson tax money to help backstop the debt for a $60 million Westin hotel planned for downtown. In giving a nod to a contribution agreement that pledged the public money, Singletary rejected local developer Don Hewitt’s argument that Mississippi Constitution prohibits […] [...]

Real Estate Forum panelists: Lenders, investors hungry for deals on residential rentals in Miss., elsewhere

By TED CARTER Such Mississippi cities as Ridgeland and Pearl are fed up with multi-family residential complexes to the point they want to retroactively zone them out of existence. But the market for such developments across Mississippi and the rest of the South is white hot and likely to grow even hotter, said commercial real estate […] [...]

Chancery Court’s interpretation of ‘public use’ will guide ruling on Westin money

By TED CARTER  How “public purpose” should be defined under Mississippi’s urban renewal laws is a question Hinds Chancery Judge Michael Singletary is thinking over. The question is at the heart of a challenge to the use of tax dollars as collateral for loans on a Westin hotel planned for downtown Jackson. In a hearing […] [...]

Jackson issues RFP in 3rd try for convention center hotel developer

The Jackson Redevelopment Authority is taking a third swing at getting a convention center hotel built. With the backing of Jackson Mayor Tony Yarber, the JRA late last month issued a Request for Proposals for a hotel of at least 300 rooms on Pascagoula Street across from the Jackson Convention Complex, an approximately 300,000 square-foot conventions […] [...]

With $200M available, next step is setting emergency bridge fix priorities

By TED CARTER Millions of dollars will soon be on the way to the Mississippi Department of Transportation for a triage effort to repair state bridges that have been neglected to the point farmers and other commercial transporters can no longer use them. MDOT’s three district commissioners must set the priorities for the repairs and spending […] [...]

AG opinions, legal precedent pose hurdles for deal to fund Jackson’s Westin Hotel

Chancery Court hearing challenging to Hinds County, JRA co-signing for hotel bonds   By TED CARTER A pledge of tax money as collateral for $30 million in bonds for a Westin Hotel in downtown Jackson has put the Hinds County Board of Supervisors and the Jackson Redevelopment Authority at odds with a state Supreme Court […] [...]

Edward French takes the helm at MSU’s Stennis Institute of Government

By TED CARTER The new executive director of the Stennis Institute of Government & Community Development brings to the post a vast store of knowledge about public administration and how to effectively run local governments. But Dr. Edward P. “Eddie” French can also tell you the best places to stop for a quick bite to […] [...]

Chancery judge delays JRA bond approval for Jackson’s Westin hotel

Challenger insists Mississippi Constitution forbids using tax dollars as collateral for private projects By TED CARTER Hinds County Chancery Court Judge William Singletary last week declined to approve bonds backed by Jackson taxpayers for construction of a downtown Westin Hotel. The Mississippi Supreme Court could be the final decider on the issue if and when it […] [...]

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