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City council approves amendment to Fondren tax-increment financing plan to add land for 233-unit housing and increase county pledge
Summary
Jackson City Council voted unanimously to adopt an amendment to the Fondren tax-increment financing (TIF) plan that adds property for a 233-unit multifamily project and reflects an increased county pledge to secure the bonds.
The Jackson City Council on Aug. 12 voted 7-0 to adopt an amendment to the city’s Fondren tax-increment financing plan that adds real property to the TIF district and reflects a larger county pledge toward payment of the project bonds. Charity Karanja, an attorney with Bartlett Snow representing the city, opened the public hearing and answered legal questions about the amendment.
The amendment “adds this land to the TIF district so that we can have room for the multifamily,” said Christiana Sugg of Gurus and Associates, who identified herself for the record as representing the development team. Sugg said the added property will accommodate a 233-unit multifamily housing development.
Karanja told council members the change also updates the financing commitments for the project: the county has increased the pledge that will secure the bond debt. “Initially, the county had pledged up to 50% of its increase in ad valorem taxes, but now it’s increasing to cover the total amount of the bonds that was actually approved in 2016,” she said.
The developer representative described a schedule for design and construction: design completion and permit submittal to the city were expected by Nov. 7, 2025, with building permits issued in January 2026 and substantial completion anticipated by October 2027. The council’s action today approves the amendment and moves related approvals forward; subsequent county approvals will be required because the TIF involves both city and county participation.
Council members and the developer also discussed related parcels and previously approved components of the larger Fondren redevelopment, including hotel parcels and a parking garage constructed earlier. The amendment before the council adjusts the footprint and the county’s participation for the Whitney Place portion of the Fondren development.
The council adopted the resolution and associated assignment by unanimous vote. The council’s action authorizes the city to proceed with the amended TIF plan per documents presented at the hearing; the county’s increased pledge will be handled separately by county approvals.
Background: The city approved the original Fondren TIF district in December 2015; this item amends that plan and restates terms to reflect development changes through July 2025. Department and developer filings provided the public notice required for the hearing.
Council members directed city staff and legal counsel to continue coordination with the developer and with county officials as required by the TIF statute and by the district’s intergovernmental terms.
