WASHINGTON – The Department of Housing and Urban Development has awarded a $10 million loan guarantee to the City of Jackson for the Capital City Center Redevelopment Project, Senators Thad Cochran and Roger Wicker announced today.

“This award is good news for business developers in Jackson who are trying to revitalize the downtown area of our capital city,” Senator Cochran said.  “This loan will help create jobs, advance businesses, and increase tourism in Jackson, while helping to enhance the Convention Center project.”

Senator Wicker said:  “City officials and the business community are committed to revitalizing downtown Jackson, and this loan represents a welcome boost to their efforts. I am glad the federal government has agreed to provide this financial assistance.”

These funds, which will be provided under Section 108 of the Housing and Community Development Act of 1974, will be used to fund construction of two full-service hotels, approximately 53,000 square feet of retail space, approximately 2,500 public parking spaces, and an additional 50,000 square feet of office space.  This development will be adjacent to the newly-constructed TeleCommunications Center and the Capital City Convention Center that is currently under construction.