A 2003 lawsuit between Leflore County and the Mid-Delta Empowerment Zone Alliance was settled Thursday after the MDEZA board approved the $157,800 settlement.
District 2 Supervisor Robert Moore said money received from the settlement is the last step in the completion of the Itta Bena business incubator.
"This settlement affects the county in a good way. Now we can repay the county the money it spent to construct the facility," Moore said.
According to Moore, the incubator can house at least 12 businesses and could bring up to 50 jobs to the county.
"It will provide each business with a receptionist, copy services and access to the Internet. Hopefully we can get some volunteers who will be engaged in helping with taxes," said Moore.
Several businesses have already applied for a spot at the incubator, but the criteria for selecting the businesses is still being determined, he said.
The incubator will host workshops on expanding business. Moore also foresees micro-business loans in the future.
All that is left to complete the incubator is communication wiring in the front vestibule and a few other small items. Competition is expected around the middle of July, Moore said.
Chancery Clerk Sam Abraham, county administrator, said a portion of the money, which is pending approval in Leflore County chancery court, will go into an escrow account to be shared by MDEZA and the county.
Abraham said Friday he could not disclose the actual amount the county would be receiving.
"I'm glad that it is over with. This is good news for the county," Abraham said.
The lawsuit stems from a grant given to the county by MDEZA for the construction of the incubator.
After the grant was awarded, MDEZA claimed the money it had given the county was actually a loan to be repaid over a 15-year period.
Construction on the incubator had already begun, and the county was forced to borrow money from other funds to cover the costs. The county filed suit in October 2003 to reclaim its money as a grant.
A court-ordered mediation was held May 25, and a full settlement of the lawsuit for $157,800 was proposed.
The Board of Supervisors approved the settlement June 6. At a scheduled MDEZA board meeting Thursday, the final settlement was approved.
Attempts to reach MDEZA attorney Betty Mallett were unsuccessful.
"I'm not totally satisfied. It was somewhat ridiculous that we had to go through this to get our payment," said Moore.
