City Leaders and Possible Lender Tour Threefoot Building

By: Lindsey Brown Email
By: Lindsey Brown Email

While stabilization crews scale the building's exterior, H.R.I. officials were inside working to push the project forward.

"We are here to give a tour of the building, The Riley Center and the downtown area for First NBC Bank out of New Orleans. First NBC is a potential lender on the project," said Josh Collen with H.R.I Properties.

Like HRI properties, First NBC Bank is out of New Orleans. They are currently in business together on the King Edward Project in Jackson. After his first tour of the Threefoot, Bank Vice President Rodney Crosby says he likes what he has seen.

"I think the structure of the building is great. There is work to do on the inside, but I think the end result will be great," said Rodney Crosby.

Now, Crosby will take what he saw in Meridian back to New Orleans. Bank officials still have to decide if they plan to loan H.R.I. the five million dollars to get this project started.

For Mayor Cheri Barry, this tour was her first opportunity to walk the property with company officials. Several City Council members were by her side including Jesse Palmer, Mary Perry and Barbara Henson.

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  • by Chuckles Location: Meridian on Aug 31, 2009 at 09:25 AM
    The Threefoot building is a white elephant and the city should have never been involved in the first place. This country is in a depression and Meridian is going to build a fancy hotel. It makes absolutely no sense.
  • by Maurice Location: Meridian on Aug 30, 2009 at 03:58 PM
    It really doesn't matter what thre gov. gets involved in, it always cost big bucks. The cost they give is always about 150%low. Anything from a building being refurbished, to bail-outs, to health care. Government spends money like there is no end because as long as the people stay silent and do nothing, there is no end. Be Heard, It's Your Money Not Theirs. If you do nothing, you get nothing, and can say nothing.
  • by Anonymous Location: Ward 5 on Aug 28, 2009 at 10:59 AM
    How interesting is it that JRS kept saying that HRI had their money and now we learn that they are touring a "potential" lender through Meridian. It should also be noted that the exterior work that is currently under way is being paid for by the city of Meridian and not HRI. Also according to city council members HRI has NOT bought the Threefoot building. In today's Clarion Ledger there is a story of HRI wanting a another building there for $1 million and has asked the city of Jackson to loan them $900,000 to buy it. What is wrong with this picture? I think Cheri and our current administration are no fools when it comes to these crooks. We need to get out of this mess before we get any deeper in "sewage".
  • by Fransisco Location: Meridian on Aug 28, 2009 at 06:35 AM
    I'm sure Mayor Barry said more than what was broadcast. Maybe she does think it's a magnificent building. That doesn't mean she is on the JRS bandwagon headed to debtville with this project. Don't let a soundbite overshadow her actions regarding this project. Mayor Barry is the only leader to bring all the players in this deal around a table. Mayor Barry is the only leader to shine any light on this deal. Thanks to Mayor Barry, Meridian now knows that HRI has never sat down with MSU to discuss the project. The same goes for Trustmark. Also it has come out that the costs of buying Trustmark's current building and moving them into another location was not in the deal approved by the City Council. And Marriot has some new demands for the current Trustmark location that changes the original deal approved by the City Council. And Meridian now knows that HRI needs a $5M mortgage loan and a $12M construction loan. So far I'm pleased with Mayor Barry's direction on this monster she was handed.
  • by Anonymouse Location: Meridian on Aug 27, 2009 at 08:55 PM
    Did I hear the Mayor refer to the Threefoot as a "magnificent" building during the story? What was she looking at? The financial breakdown reaffirmed my feelings. Level the eyesore and fix our city's infrastructure. The rich behind the Threefoot can find taxpayer money to prop up their interests elsewhere.
  • by Thomas Location: Meridian on Aug 27, 2009 at 08:43 PM
    The City needs to fulfill any contracts we've already obligated ourselves to and get out. Even if we took a loss on the building and cut ties with HRI, we would avoid the "blank check" that goes with restoring a building of this size. The best thing that can happen is to put the Threefoot Building in the hands of a private investor or knock it down and save the pieces. Make the Kress Building a wonderful Arts and Entertainment Center, and then beg and plead a certain hotel entrepreneur to invest in his community once more. Municipalities should facilitate growth rather than just attempting to acquire it. For too long John Robert Smith has mismanaged this city's money. Don't believe me? I challenge you to find out how he manages his own.
  • by FP Location: Meridian on Aug 27, 2009 at 08:31 PM
    The Threefoot project will be a money pit for Meridian. More money is spent by our local government with little return. Examples: Ag Center, endless repair to dam at Bonita, City Hall, Parking Garage, Union Station, Scrim Tec (or whatever they call it), Malone Ranch industrial park. Look for 22 Ave. overpass to be a mess also. And in the meantime, school system fails, street and infastructure continues to deteriorate, and population flees.
  • by Anonymous on Aug 27, 2009 at 07:53 PM
    Doesn't this just get better and better?! HRI is just now looking for a lender! The boys from New Orleans have their eye on Meridian. I like the mention of the King Edward in Jackson. Let's see...1/4 million people to 39,000 people. Hummm...apples to oranges.
  • by Layla Location: New Orleans on Aug 27, 2009 at 06:51 PM
    Wow... that bank VP Rodney Crosby is pretty hot!!!!
  • by jEAN Location: MERIDIAN on Aug 27, 2009 at 04:13 PM
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