Three things to know about Mud Island developments
BRANSON MISSOURI NEWS: By Ryan Poe of The Commercial Appeal
Posted: 9:45 a.m.
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The current changed once again Thursday for a possible redevelopment of Memphis’ aging Mud Island River Park.
Developer Andy Cates told Riverfront Development Corp. President Benny Lendermon in a terse email Thursday he was withdrawing his proposal to redevelop the south end of the island, leaving one developer in the running to rehab the park.
Here are the three things you need to know to get caught up on the story:
1. The city is holding out for other options. The city has asked the state Building Commission to OK the city to tap funds captured by a tourism development zone (TDZ) for more hard-core development than usually allowed under TDZ rules. If the city gets permission, the city will have money to spend on the development — something previously unavailable, but sorely needed to make a redevelopment feasible, as Lendermon previously said. If the state approves using TDZ funds, the city and RDC would likely have started the redevelopment discussion from scratch anyway.
2. The other developer doesn’t win by forfeit. Just because Cates bowed out doesn’t mean Branson, Missouri-based firm The Mansion Entertainment and Media will move forward with its …
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