City Council to Meet in Special Session about Indian Mall Development - KAIT Jonesboro, AR - Region 8 News, weather, sports

Jonesboro, AR

City Council to Meet in Special Session about Indian Mall Development

JONESBORO, AR - Jonesboro Mayor Doug Formon has called a special session of the City Council for tomorrow (Thursday) afternoon regarding proposed development plans for the Indian Mall property.

According to a release from City Hall, the 3:45 p.m. meeting is "for the purpose of reviewing a Resolution of Understanding between the City of Jonesboro and MBC Holdings for development of the old Indian Mall site."

On August 6, MBC developer Bruce Burrow announced that his company had entered into a contract with the Indian Mall owners to purchase the property.  If the deal is completed, the project could employ approximately 700 people upon opening and provide retail sales of $70 million annually. 

However, Burrow also cited concerns with the city's administration and its past dealings with MBC Holdings, especially apparent difficulties in dealing with the Formon administration over development of The Mall at Turtle Creek and the Kohl's Center.  "I can tell you this, if we can't reach an agreement on this issue in writing with the Mayor and his administration up front, we won't do this deal," Burrow said at the time.

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