Senate Bill 3094 Summary

• Authorizes the Department of Finance and Administration and Mississippi Development Authority to sell the "Old School for the Blind" property (23.69 acres in Jackson, Hinds County) for private redevelopment.

• Establishes a competitive proposal process requiring the state to conduct a national advertising campaign, accept redevelopment proposals, convene an evaluation team, and select the highest-ranked proposal based on qualifications, financial ability, project vision, and economic impact.

• Requires selected proposers to execute a memorandum of understanding within 30-90 days of intent notification, deposit 10% of purchase price, file an affirmative action workforce plan, and comply with state public purchasing and contracting laws.

• Brings forward existing 2007 law allowing the Mississippi Development Authority to lease the property for mixed-use development with minimum $100 million investment and creates legislative advisory committee to consult on developer selection.

• Amends Mississippi homestead exemption statutes (Sections 27-33-17 and 27-33-19) to allow homestead exemptions for persons who sublease Old School for the Blind property under 20-year or longer leases.