Jackson Free Press

Some musical birthday wishes and new release info...

Jackson developer David Watkins is apparently not satisfied with losing control over the Farish Street renovation project, and is asking the Jackson Redevelopment Authority Board to reconsider their decision of two weeks ago to cut ties with the Farish Street Group, of which Watkins is the chief investor and developer.

You can read Watkins' letter to JRA Chairman Ronnie Crudup here.

This is the press release we just received from Watkins Development LLC:

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The developer of the Farish Street entertainment district, Watkins Development LLC, has requested that the Jackson Redevelopment Authority (J.R.A.) reconsider their recent decision to cancel the leases and parcels in that area, where Watkins has spent millions of dollars on the historic urban renewal project. In a 10 page letter to the J.R.A., copied to the bulk of City government, Watkins legal counsel, Lance Stevens of Jackson, presents a lengthy historical account of the company’s accomplishments and unforeseen obstacles on the project, as well as the financial fallout which would accompany the developer’s ouster.

That letter is attached.

“We are encouraged by the new vision that Mayor Lumumba has brought to Jackson and feel certain that he will demand reconsideration of J.R.A.’s acts when our company is finally allowed to make a public or private presentation,” says David Watkins, the managing partner of Watkins Development.

The letter to J.R.A. references the fact that the leases were cancelled without consultation with Watkins’ group and without any presence at the meeting.

“The J.R.A. appears to be putting our fine city at risk–risk of destroying Farish Street’s hopes and risk of massive legal exposure–with their uninformed decision-making. They must be receiving no credible legal advice whatsoever,” says Watkins’ legal counsel, Lance Stevens. The letter to J.R.A. documents the $4.7 million that Watkins himself has invested in the property, while noting that the City and J.R.A., in particular, have not invested any money, despite scuttlebutt that City funds have been squandered.

“J.R.A. committed over $10 million in financing to the project and has utterly failed to contribute a nickel,” says Stevens. “The good news, however, is that with a timely reversal of their decision, the $5 million in tax credits can be salvaged, a protracted legal battle can be avoided and Farish Street can become our center for entertainment and local entrepreneurship."

The letter to J.R.A. documents that over $5 million in tax credits would be lost if Watkins Development is removed altogether from the project (as well as another $4 million in tax rebates), “dooming” the project, according to their counsel.

(Yes, I'm going to get all the mileage I can out of this Public Enemy-esque headline.)

A group called Mississippians for Affordable Energy picketed Tuesday night in Meridian to protest Mississippi Power Co.'s Kemper County coal-fired power plant.

Local TV station, WTOK reported: "The picketers say they were there in protest of the financial burdens on ratepayers as Mississippi Power constructs the lignite plant, as well as a fundraising dinner that was in progress tonight for Central District Public Service Commissioner Lynn Posey."

The news station noted that the protestors set up outside of Weidmann's, a fancy joint in downtown Meridian.

Posey, a Republican, has consistently voted in favor of Mississippi Power and Kemper. And even though Posey won't be up for re-election again for another couple years, it's possible that he is banking that the growing unpopularity and price tag of Kemper -- almost $5 billion -- won't sit well with central-district voters in 2015.

Meridian is approximately 30 miles south of where Kemper construction is taking place.