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JRA asks Jackson council for $15.4 million to expand housing, Ferris Street renovation and a $6.65M revolving fund
Summary
The Jackson Redevelopment Authority presented a $15.4 million fiscal‑year budget request focused on operating increases, predevelopment work for Ferris Street and a proposed $6.65 million RISE revolving loan fund to recruit businesses to urban renewal zones.
The Jackson Redevelopment Authority presented its fiscal‑year 2026 budget to the City Council, requesting $15,400,000 that includes a $2.9 million operating budget and a suite of capital and predevelopment proposals intended to revive downtown property and stem business departures. JRA officials also asked the city to consider capital support to stand up a $6.65 million revolving loan pool for business recruitment in urban renewal zones.
JRA framed the request as a mix of operating support and seed capital for redevelopment. “When people come and meet with me and they tell me their vision, that's exactly what it is. It's an idea and a vision until you bring me documentation that shows me financing, it shows me a capital stack,” the JRA representative said, describing the agency's vetting process for private projects.
The budget packet calls for a near‑term operating increase of about $1.1 million over current levels and identifies $7.4 million in…
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