Jackson city leaders signed off on a $900,000 loan Tuesday, clearing the way for developers to start renovations at the Standard Life Building downtown next week.
The City Council voted 5-1 to approve the loan after a heated debate that got personal between two council members.
The meeting recessed briefly at the request of Council President Leslie Burl McLemore, the lone dissenter, after tempers flared between him and Councilman Frank Bluntson.
Under the deal, the city’s redevelopment authority will sell the Standard Life Building to the developers for $1 million. Developers will pay $100,000 up front, and $900,000 will be due in a lump sum in 10 years.
About the Author(s)
Magnolia Tribune
This article was produced by Magnolia Tribune staff.
More Like This
Next Story
