JSU's Bill Fielding Thinks Mill Project Good Idea
By Sherry Kughn
JSU News Bureau
August 13, 2004 -- When Jacksonville City Council, the public
and the candidates for the next election gathered to discuss economic impact of a proposed project to transform the
Union Yarn Mill property, it was Jacksonville State University's Bill Fielding they listened to, according to a recent
article in the Anniston Star.
Dr. Fielding is professor of economics and dean of the College of Commerce and Business Administration. The project
seems viable to Dr. Fielding.
Jacksonville has already purchased one of the buildings for $350,000. The city is in talks with Sloss Real Estate of
Birmingham to sell their portion of the mill and lease the buildings when finished for 30 years, at which time they
would regain ownership.
The lease would cost the city, long-term, about $12.7 million but the proposed new city hall, apartment dwellings and
retail center would generate $20.7 million.
Fielding's study used estimates from the proposed deal and said Sloss Real Estate had access to government tax credits
that could make the project less risky.
Mayor Jerry Smith said Dr. Fielding's study would help the city council make a decision. The next meeting of the
City Council will be Aug. 23.
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