Housing News

Helm Place Development Revitalizes Downtown Jackson Community

Helm Place, a new residential development designed to revitalize a downtown Jackson neighborhood, celebrated its grand opening with state and local dignitaries at a ceremony and ribbon cutting on July 14, 2016.  Helm Place includes 88 newly constructed, affordable market-rate townhomes and a 4,000 square foot community center. 

"To go with strengthening downtown Jackson by providing a safe place to raise a family, Helm Place will serve as an important piece of Jackson's growing healthcare corridor," said Governor Phil Bryant.  " I congratulate everyone involved in making this project a reality."


Each single-family home is 1,520 square feet, contains three bedrooms and two-and-a-half bathrooms, and has an enclosed two-car garage.  Helm Place surrounds the historic Mount Helm Baptist Church, considered the oldest African-American church in Jackson, MS.

"Helm Place is an extension of our church's mission to change lives that change the world," said Reverend C. J. Rhodes of Mount Helm Baptist Church.  "Decades ago, Mount Helm elected to stay in the Farish Street community and be a blessing to it.  Today, we praise God for a long-term dream come true, and I am humbled Mount Helm took the lead in our neighborhood's transformation."

Chartre Consulting Ltd. designed Helm Place with the needs of the church and surrounding community foremost during the planning and construction stages.  The pristine new development replaces vacant lots and abandoned or dilapidated housing.

"This new development is another example of the transformation underway in Mississippi's Capital City," said Jackson Mayor Tony Yarber.  "Helm Place benefits not only the residents in the area, but Jackson's downtown as a whole.  The foundation of a strong community is safe, attractive affordable housing.  We're hopeful Helm Place will inspire other business and community partners to invest in Jackson and its citizens."

Developed by Chartre in conjunction with the State of Mississippi and the Mississippi Home Corporation (MHC), Helm Place is designed to provide quality, affordable housing to families supported by low-income wage earners.  MHC awarded the development $13.1 million in tax credits as part of the healthcare zone special cycle held in 2013. 

The MHC tax credits allowed for construction of the 88-unit single-family lease purchase development.  Under the program that made this development possible, the homes will be rented for the first 15 years to residents who initially qualify as low-income. 

After 15 years, residents will have the opportunity to purchase the home at a $50,000 fully financed price.  During the rental term, the development will be professionally managed with life skills and other programs provided to residents free of charge.

"This development is a shining example of how affordable housing is critical to revitalizing and invigorating communities," said Clarence Chapman, president of Chartre.  "Aside from the obvious physical improvements to the neighborhood, we are positively affecting our resident's lives by providing a stable community in which they can educate and raise their families.

Mississippi Home Corp announces the 2015 Tax Credits awards. 

County rejects tax objections regarding certain Section 42 properties

 

 

By Ray Van Dusen | 6:00 am | September 2, 2016 | News

 

ABERDEEN – Representatives from Georgia-based Property Tax Eagle were not present at a public hearing Aug. 24 regarding four Section 42 properties throughout the county. After hearing clarity on the matter of property assessment, the board of supervisors voted to reject the objection, making Monroe County join a list of roughly 20 counties in the state doing the same.

 

 

 

“This matter has been litigated, and Humphreys County went to the Mississippi Supreme Court. Since these are rent-controlled units, the assessment is low,” said Monroe County Board of Supervisors Board Attorney David Houston.

 

 

 

The four properties include Tschudi Courts, Smithville Meadows, Timberlake Apartments and Townhouses of Aberdeen.  Property Tax Eagle didn’t file the assessment on the four properties by the April 1 deadline.

 


 

The four properties’ assessments are divided by seven taxing districts including school districts, the county, Aberdeen, Amory and Smithville.  According to Houston, the statutes regulates these Section 42 housing units require the income approach to value is to be used to establish the assessment. The net operating expense is deducted from the gross income of the property, which formulates the net income approach.

 

 

 

“If I’d gotten this in by April 1, I have to follow that,” said Ron McCafferty, a consultant to the Monroe County Tax Assessor’s office. “We felt we were fair with the valuation.”

 

 

 

The Mississippi Department of Revenue states if an objection is not filed timely, real property can be assessed by the income, market value or cost value.  Property Tax Eagle didn’t get the proper information to any of the other counties in the state that rejected the objections either.