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CMPDD to JRA: Pump the Brakes
By Tyler Cleveland"Hold up, Wait a minute, Put a Little Love In It"
That's the message the Central Mississippi Planning and Development District sent the Jackson Redevelopment Authority yesterday over JRA's decision to terminate its lease with the Farish Street Group.
In a three-page letter to JRA Executive Director Willie Mott, CMPDD CEO F. Clarke Holmes said JRA's purported termination notice was sent in clear contravention of the FSG/JRA lease, because the CMPDD, who is acting on behalf of MDA (and protecting it's $4.7 million investment in Farish Street) wasn't given prior notice.
"CMPDD request that JRA immediately withdraw the Termination Notice as to the Subject Properties until CMPDD is provided reasonable notice and opportunity to cure any defaults under the JRA-FSG Lease, or JRA is allowed to exercise its rights under the Leasehold Deeds of Trust and the Consent Agreement to protect its security for the CMPDD Loans," the letter read.
It might not be a pardon, but the letter could serve as a temporary reprieve for Farish Street Group and its embattled manager David Watkins. The better news here for Watkins is he seems to have CMPDD on his side in the negotiations going forward, because JRA isn't likely to pick a fight with the wing of MDA it has to deal with on a regular basis.
The letter concludes with this message: "In the meantime, we believe the best course of action for all of the parties is to move forward with transparent discussions aimed at getting the Farish Street project completed in a manner that achieves everyone's goals."
