Mississippi Senate Bill SB2107

Mississippi 2025 Regular Session

• Introduced: 1/17/25
• Refer: 1/17/25
• Failed: 2/26/25

Caption

General Fund; FY2026 appropriation to Greenwood-Leflore-Carroll Economic Development Foundation for mixed-used facility.

Impact

The passing of SB2107 is anticipated to have a significant positive impact on local economic development in Greenwood. By facilitating the conversion of the Whittington Building into a mixed-use facility, the bill aims to enhance the community's ability to attract new businesses and stimulate job creation. This investment is crucial for revitalizing the local economy, particularly in areas that have experienced economic decline or stagnation. The proposed hub could serve as a catalyst for further economic initiatives and development in the region.

Summary

Senate Bill 2107 proposes an appropriation of $2,000,000 from the State General Fund to the Greenwood-Leflore-Carroll Economic Development Foundation. The funds are aimed at supporting the rehabilitation, design, construction, and equipping of the historic Whittington Building located in Greenwood. The intent is to transform this building into a mixed-use economic development hub, which would cater to various economic activities within the region, thereby bolstering local development efforts.

Contention

While the bill primarily focuses on funding for redevelopment purposes, discussions surrounding SB2107 may involve opinions about prioritizing state funds for local initiatives. Some may argue that more funding should be directed toward broader state-level economic policies rather than specific local projects. Additionally, there could be debates on the equitability of allocating such funds, with considerations regarding the financial transparency of local development foundations and their ability to manage large appropriations effectively.