Developers are asking the city of Jackson for a $900,000 loan to help purchase and renovate the Standard Life Building downtown.
The City Council plans to go into closed session this morning to talk about the loan and then vote on the proposal at a special meeting at 1 p.m.
The 10-year loan would be given through the city’s redevelopment authority, said Jackson developer David Watkins. He said it will allow him and co-developers – HRI Properties, Deuce McAllister and LeRoy Walker – to start work on the $34 million project.
“We are simply asking the city to work with us to plug this last $900,000 gap,” Watkins said.
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