JACKSON, Miss. (WLBT) – A $10 million federal loan used to buy the Pascagoula Street property tied to the Jackson bribery scandal has been paid off.
Chief Administrative Officer Pieter Teeuwissen told 3 On Your Side the city retired the debt in December, making the land across from the Jackson Convention Complex “free and clear.”
Jackson received the Section 108 loan from the U.S. Department of Housing and Urban Development (HUD) in 2008 to assemble multiple parcels in hopes of attracting development.
Under the agreement, $7 million of that was to be spent on the property, with $3 million directed toward job creation for low and moderate-income individuals…