Does Nick Walker love public-private managed agreements? Managed agreements are prone to non-transparent operation and administered by Memphis Parks. Managed agreements often provide public private non-profits with significant public resources, while not required to answer FOIAs or open their board meetings to the public.

Could yet another managed agreement be in the works in First Tee for golf? Maybe. Since the 2020 publication of the Parks Survey, alternative committees have seemed to bolster funding support for public amenities for Tennis and Golf that did not fare well with public surveys or in ratings provided via a Market Potential Index (MPI).

Locally, Tennis and Golf involve public-private partnerships in the likes of Tennis Memphis and First Tee. It seems Mr. Walker may be grouping golf in the open play spaces category, to justify golf expenditures. After $30M for Leftwich Tennis Center, under discussion is $6M in City funds for a Audubon Golf Clubhouse.

See below raw survey results, programming and market potential index results from the 2020 Memphis Parks Master Plan.

 

 

The following are facts regarding the Memphis Area Transit Authority as of 7/20/24

The Hotel-Motel Tax, with allowable uses for tourism, could be leveraged as a long-needed MATA local dedicated funding source. The Hotel-Motel tax is currently scheduled to be used to support part of the approximately $1B in stadium expenditures, over time. The $1B approximation is based on media published construction costs of Liberty Bowl and FedEx Forum renovations plus expected interest costs. The State of TN provided a $350M grant for local stadium/arena funding. On Monday 7/22/24, the County Commission will consider ratifying the Hotel Motel tax for stadium construction use. The item currently resides on the consent agenda #20. (Source: County Commission 7/22/24 Agenda. View Meeting – OnBase Agenda Online (shelbycountytn.gov)

Fixed route ridership, since 2002 has declined across a Memphis Chamber of Commerce selected Memphis municipal peer group on average by 41.3%. Ridership has decreased in Memphis since 2002 by 77.4%. (Source: MATA RIDERSHIP – Taxpayer Justice).

Post COVID ridership recovery since 2021 low through 2023, for the peer group, was 31.5%. MATA recovery for the same period was less than 1% at .3% (Source: MATA RIDERSHIP – Taxpayer Justice).

Monthly fixed route ridership in May for FY 2024 was 205,974, Daily 6,644 and Hourly 415 (Source: MATA RIDERSHIP – Taxpayer Justice).

Monthly average individual fixed route ridership in May 2024 was 8,955, Daily 289 and Hourly 18 (Source: MATA RIDERSHIP – Taxpayer Justice).

During May 2024, Monthly individual fixed route ridership ranged from 924 to 26,442, Daily 30 to 853 and Hourly 2 to 53. (Source: MATA RIDERSHIP – Taxpayer Justice)

Neither MATA Board Chair Michael Fulton or Interim CEO Bacarra Mauldin practice transparency by answering public information requests. Unanswered public information request are displayed in the Non-Transparent Database (Source – NON-TRANSPARENT – Taxpayer Justice).

Since the 2018 Transit Vision was published, MATA regressed and deficiencies increased from 15 in 2019 to 27 in 2023. The 27 deficiencies in the most recent 2023 review occurred across 7 of 13 eligible areas to include: 1) Financial Management and Capacity 2) Technical Capacity-Award Management, Procurement, Disadvantaged Business Enterprise, Title VI, American with Disabilities Act (ADA)-General, Equal Employment Opportunity. 6 of 27 deficiencies were repeat deficiencies from the 2019 review with 5 of the 6 residing in Procurement. (Source: FTA 2019 and 2023 Triennial Reviews. Review)

On 2/27/24 at Interim CEO Bacarra Mauldin’s first meeting, the MATA Board approved, without current financials available, a $3.4M increase to an AllWorld consulting contract and a $5.8M Flowbird (French Company) Bus Rapid Transit (BRT) ticket vending contract. The BRT has been delayed for 6 yrs. and no ridership projections have been made available to the public. MATA rescinded in May the Flowbird contract. (Source: https://matatransit.legistar.com/View.ashx?M=PA&ID=1181608&GUID=F0CA95D0-7C9A-4882-ABB5-80C192FA664A)

 

 

 

 

It was confirmed to me off the record, by an informed MATA official, of how the $20M loan from the City is being accounted for by MATA. The $20M is accounted for under an entry in the new, just released, MATA Net position statement under an “MTM” entry. Had either a March Net Position statement been presented at the previous MATA May meeting, with more clear entry of what “MTM” stands for or a March cash flow statement been available, the mystery of the $20M would not have surfaced. In short, the missing $20M concern surfaced due to deficient incomplete but now improving MATA financial reporting.

And good news is MATA cash flow statements will be forthcoming based on the public testimony of MATA CFO Hamish Davidson at the 6/26/24 meeting. Additionally, the City Council failed to account for the $20M MATA loan repayment or renegotiated loan term in budget proceedings, adding further confusion.

Also mentioned in testimony was improving the Net Position financials to separate “cash and receivables” from a combined to individual entries.

 I still do not know what “MTM” stands for. MATA continues to struggle with financial reporting due to a challenged technology implementation. The off the record MATA official clarification was helpful. Good news is that $20M was found. See pdf page 51 of the MATA 6/26/24 Agenda Packet .

Discriminating between “accounted for debt/liabilities” and “unaccounted for missing money” is important for readers of this informational blog. As of March 31, 2024, MATA has not received significant promised funds from public sources. Based on MATA’s March 2024 current financials, proceeds from the City of Memphis FY25 proposed budget book, as documented in the FY24 City of Memphis forecast of $50,670,000 are not accounted for in the MATA March 31, 2024 current financials.

This amount accounts for the FY24 budgeted MATA appropriation of $30,670,000 plus $20M in loan proceeds approved by the Memphis City Council. The $20M in loan proceeds were approved on 11/21/23. See 01:03:50 in public record video. Where is the $20M for MATA is the question? Additionally, in FY24 per March 31, 2024 current financials, MATA has not received any Federal or State funds.

These are the source documents: MATA March 31, 2024 Current Financials (pg. 23 of 124) presented at the May 21, 2024 meeting. Next the FY25 Proposed City Budget (pg. 10 of 341.

At the same time, the heavily media reported approximate debt or liabilities of $60M can be accounted for in the MATA FY23 audited financials (pg. 7). $10m is current liabilities and the remainder is long term post-employment benefits and pension liability for total liabilities of $66,637,324.

There is both accounted for debt/liabilities and missing money documented in this informational blog. Please see excerpts from public documents and highlit areas below:

MATA MARCH 31, 2024, CURRENT UNAUDITED FINANCIALS

CITY OF MEMPHIS FY25 PROPOSED BUDGET BOOK (As of 6/6/24)

MATA FY23 AUDITED FINANCIALS

 

 

April 4, 2024

$18.4M Tri State Transit announcement – Congressman Cohen Announces Full-Year Transit Funding for Memphis Tri-State Area | Congressman Steve Cohen (house.gov)

February 29, 2024

$7.3M Transit Tri State Partial Year Announcement for October 1 to March 1, 2024 – Congressman Cohen Announces $14.7 Million for Transit Funding from Bipartisan Infrastructure Law | Congressman Steve Cohen (house.gov)

June 22, 2023

$25M Crosstown Corridor – Congressman Cohen Announces Significant RAISE Grant Funding of $38.2 Million to MATA and Shelby County’s Project ELBOW | Congressman Steve Cohen (house.gov)

July 13, 2023

$500K MATA Operations & Maintenance Facility Project – Congressman Cohen Applauds Advance of $13.7 Million in Community Projects for Tennessee’s 9th Congressional District | Congressman Steve Cohen (house.gov)

February 2, 2023

$12.4M MATA announcement for FY23 – Congressman Cohen Announces $14.7 Million for Transit Funding from Bipartisan Infrastructure Law | Congressman Steve Cohen (house.gov)

January 31, 2023

$640K City of Memphis Safe Streets a portion for public transit – Congressman Cohen Announces Safe Streets and Roads For All Grant from Department of Transportation | Congressman Steve Cohen (house.gov)

August 12, 2022

$76M MATA: $54M for new buses, and facility construction and $22M for electric buses – Congressman Cohen Secures More Than $76 Million from DOT to Revitalize MATA | Congressman Steve Cohen (house.gov)

April 6, 2022

$18.7M Memphis Urban Transit Area – Congressman Cohen Announces $124 Million in Transit and Highway Funding for Tennessee | Congressman Steve Cohen (house.gov)

March 8, 2022

$46M – Memphis Innovation Corridor Project – Congressman Cohen Applauds $46 Million in Biden Budget for Memphis Innovation Corridor Project | Congressman Steve Cohen (house.gov)

City-of-Memphis-FY25-Proposed-Operating-CIP-Combined-Budget-Book-Detailed-Copy (2)

Regarding this MLGW proposed 12% electrical rate increase, MLGW City Council public record testimony is riddled with inconsistencies. And MLGW Commissioner Mitch Graves, after remarking the capital budget is never, ever, ever spent, labeled the FY24 capital budget, based on history, “not reality”. See 01:47:30 in the video.

These on the record inconsistencies point to the need for a forensic audit, while eliminating the need for a rate increase. Let’s take a closer look and if you are confused, it is understandable.

CAUGHT ! – On July 11, 2023, at 00:30:55 in the City Council MLGW Committee video, regarding a 5 yr. $228M tree trimming contract, MLGW CEO Doug McGowen said,  “I am not asking for more [rate increase] and want to thank Councilmembers that saw the wisdom of that increase [previous electrical rate increase]. I know it’s always a hard decision.” And at 00:34:00, McGowen reassures Councilmembers, that MLGW would fund tree trimming with existing funds by saying, “We have the money from under execution.”

CAUGHT ! On July 11, 2023, at 00:38:15 in the City Council MLGW Committee video, when asked the appropriate action for ratepayers to take when the power goes out, McGowen arguably provided the wrong answer by saying, “The answer is call.” Wrong answer because outages can be reported online without driving up call wait times, while decreasing customer service costs.

CAUGHT ! On November 7, 2023 in Memphis City Council MLGW Committee, At around 00:02:06, MLGW CEO, Doug McGowen presents a slide that shows a 128% increase for a 5-year tree trimming budget going from $100M to $228M. That is a $128% increase. Then Mr. McGowen, discussing tree trimming, states “our peers alike are seeing a 60%-70% increase for this function [tree trimming]”. Why the difference between 70% and 128%? And can anyone believe, that McGowen is leading with tree trimming, as a primary basis for the 12% rate increase, after assuring the City Council in July, that MLGW had the funding for $228M in tree trimming, without a rate increase?

Next, based on FOIA peer requests to Nashville Electric Service and Knoxville Utility Board, even the claimed peer increase of 60%-70%, per McGowen testimony, in tree trimming costs, is shown to be inflated and not connected to reality.

Knoxville’s tree trimming budget, FY23 to FY24 increased by 20.3% from $13.5M ($13,538,349 ) to $16.3M ($16,295,914). Much of this budget increase is due to a 37% increase in planned production. Nashville’s FY24 budget dropped by 5.1% from $20.8M ($20,835, 839) in FY23 to $19.8M ($19,782,993) in FY24. The FY23 number assumes $2,597,380, in administrative costs, provided by NES via FOIA for FY24 only.

Had the NES administrative costs not been assumed for FY23, the FY23-24 tree trimming budget decrease would have been greater for NES. In fairness to this evaluation, NES did see a 17.5% FY22-23 per mile increase. But a 17.5% increase, is a long way from McGowen testimony at 70-128%. See references.

Recent tree trimming benchmarking, excluding administrative costs, showed MLGW budgeting 100% more than Nashville (NES) per tree trimmed mile, at $33K vs $16.5K for NES and 173% more than Knoxville (KUB) at $12K. Local IBEW 1288 approximated $10K per tree trimmed mile. Nashville per mile rates also include mowing. See references below (JustMyMemphis).

CAUGHT ! – Electric Capital Spending Budget

CAUGHT ! Next, on November 7, 2023, at 00:51:45, upon questioning from Madam Councilor Cheyenne Johnson, MLGW CFO Dana Jeanes testifies to have spent $520M in electrical capital expenditures. Yet via MLGW FOIA response (pg. 3), as of the end of FY23, on June 30, 2023, only $296.1M ($296,061,545) had been spent from FY21-23.  Further, McGowen’s earlier MLGW PowerPoint slide at 00:04:53 shows $172M being spent on electrical capital expenditures. See the inconsistencies? There is a range from $172M to $520M for to date electrical capital expenditures, included in testimony. Also, no rate increase needed to fund the $120.5M for generation and storage initiatives.

This is why, for this important deliberation, production is needed, of current MLGW financials, to include FY23 year end and current FY24 financials.  MLGW has refused to provide those financials via FOIA request.

Conclusion

The need for a rate increase is eliminated, by expeditiously fully spending the original $800M capital budget, right sizing the tree trimming budget, eliminating other unnecessary expenditures like $16.5M for paving and $18M for out-sourced customer service. And if activated, the $120.5M in generation and storage, as we know, can be done without a rate increase. Meanwhile, a forensic audit of MLGW is in order.

REFERENCES

• NES FOIA 1 – https://1drv.ms/b/s!AiNXRWm6KZQigpZLjbEu8N5lMg0Mew?e=gOlggi
• NES FOIA 2 – https://1drv.ms/b/s!AiNXRWm6KZQigpdHOIruJVhc-gEYgg?e=WJh6cr
• KUB FOIA – https://1drv.ms/b/s!AiNXRWm6KZQigpZK-uS2RGfaTxK5JQ?e=5L1kA4
• JustMyMemphis. Tree Trimming Per Mile Benchmarking – https://www.justmymemphis.com/view-post/2080

Before any investigation, local Memphis and Shelby County Legislative bodies should read, into the public record, during full regular session, the minutes of the Depot Redevelopment Corporation (DRC) and The Economic Development Growth Engine (EDGE), subject matter having to do with DRC transactions. DRC was originally funded to revitalize the economically dislocated South Memphis area that came as a result of the departure of the Army Depot.

Then following the minutes reading, legislative bodies should have a deliberation on what corrective action should be taken, while knowing EDGE combined entities have $27M in unrestricted taxpayer cash on their balance sheet, as of May 31, 2023.

It should also be considered, that the impoverished South Memphis area has been deprived of the use of cash assets from the 2011-12 sale of the South Memphis Depot property. On $9.2M, which will be tabulated from the below minutes, at 5% interest, that would add $5.4M in interest charges, for a total of $14.6M.

And finally, the following distribution from EDGE should be considered, $13.5M to the South Memphis area and $1M to the Taxpayer Justice Institute (TJI). The $1M to TJI would be used to construct the Memphis Museum of Public Debauchery, as a local community-wide civics instructional intervention to inform leadership development and rigorous oversight practice on behalf of taxpayers.

Additionally, there are South Memphis community members that have a desire to make a claim against the City and the County for $21M the City and County received for the sale of Depot real property assets. But the former is a separate and additional claim to the EDGE claim in this blog.

The EDGE/DRC minutes content, to be read into the record, is below with links to actual minutes.

EDGE/DRC MINUTES

Depot Meeting: March 21, 2012 – The next item of business was the request to approve a loan not to exceed $2.5 million to the Industrial Development Board of the City of Memphis and County of Shelby, TN (IDB), for the Paul R. Lowery Road Improvement Project in the Frank C. Pidgeon Industrial Park. President Reid Dulberger gave explained how the funds would be used. The Project is supported by a $3 million grant from the Delta Regional Authority (DRA), which will reimburse the IDB for approved expenses related to the construction project. Of the funds requested, $1.3 million will be used to make timely payments to contractors, with the monies reimbursed by the DRA within weeks. In addition, the IDB is required to deposit $1.2 million in an escrow account to insure the project achieves the job creation and investment targets specified in the grant agreement. The escrow account must be maintained for 3-years once the job and investment targets are achieved, meaning the escrow account will be in-place for 4-5 years. After a brief discussion by the Board, Jack Moore moved that the authorized loan be approved, which was seconded by Thomas Dyer. The authorized loan was approved on an affirmative vote of the following members: Al Bright, Jr., Thomas Dyer, Natasha Bowen, Jack Moore, Deidre Malone, Mark Halperin, Charles Goforth. Larry Jackson 

Depot Meeting: January 16, 2013 – The next item of business to come before the Board was a request from the City of Memphis and Shelby County for EDGE to provide $100,000 in seed funding for the Air Service Task Force. President Dulberger reported that the Task Force is comprised of elected officials and community leaders from West Tennessee, Eastern Arkansas and Northern Mississippi and was recently created to help expand service and tower travel costs at Memphis International Airport, working in conjunction with the Memphis/Shelby County Airport Authority. The Task Force is an ad hoc group, not a legal entity, and EDGE was also asked to serve as the fiscal agent. The Task Force has an executive committee including Mayors Wharton and Luttrell, elected officials from Hernando and Tunica, MS; private sector representatives from International Paper, FedEx; Methodist, Baptist, and St. Jude Hospitals; and others. Seed funds from EDGE will be used to engage a consultant to evaluate options and develop an action plan, and for other purposes. Additional funds are expected from Task Force members. After discussion of the Air Service initiative, Jackson Moore moved for approval of EDGE to act as the fiscal agent and to provide $100,000 from the Depot account. The motion was seconded by Larry Jackson. The motion was approved on an affirmative vote of the following members: Al Bright, Jr., Natasha Donerson, Charlie Goforth, Jack Moore, Thomas Dyer, Larry Jackson, Mark Halperin, Johnny Moore (Cumulative: $100,000)

June 30, 2013 Depot Financials – (Summary) Without a recurring revenue model, like EDGE and The Port, and while undertaking the costs of maintaining Depot properties for sale, Depot shoulders $2,879,400 in real property disposal costs, while delivering $21M to the City and County and while loaning the Port money and putting EDGE in business. (Cumulative: $2,979,400)

Depot Board: July 15, 2015  – Based on the representations set forth in the Project and the recommendation of the staff of the Depot, the Depot hereby awards and agrees to provide to Regional Economic Development Plan (REDP) a $345,440 grant to assist GWI in the Project. (GMACW and Epicenter mentioned in full resolution. Unclear what “GWI” stands for).The motion was seconded by Johnny Moore and was approved on an affirmative vote of the following members: AI Bright, Tom Dyer, Natasha Donerson, Larry Jackson, Charlie Goforth, Mark Halperin, Deidre Malone, Johnny B. Moore (Cumulative: $3,324,800)

Depot Board: December 16, 2015 – Extension of Depot Redevelopment Corp. Loan to the Industrial Development Board Reid Dulberger commented that next item before the Board was the same item as in the previous IDB meeting except from the lender’s perspective. Staff requested the Depot to agree to extend the loan to the IDB for the $1.2 million until the funds are either released from Tri-State Bank or December 1, 2020, whichever comes first. The motion was seconded by Mark Halperin and was approved on an affirmative vote of the following members: Al Bright, Tom Dyer, Natasha Donerson, Charlie Goforth, Mark Halperin, Jack Moore. (Cumulative: $3,324,800)

*******DEPOT BOARD STOPS MEETING*******

At this point forward, EDGE is meeting and extracting funds, without convening the Depot Board and without public notice. These extractions, occurring without public notice, is likely illegal. 

EDGE Board: June 20, 2018 – Based on the Service Agreement between EDGE and the Depot Redevelopment Corp., EDGE also approves the following DRC funding during FY2019: (1) a $900,000 grant to the Greater Memphis Alliance for a Competitive Workforce (GMACWorkforce) for operating expenses related to workforce development efforts;(2) $200,000 to help Improve rail service to Industrial customers on Presidents Island through a new intermediary service provider; and (3) $600,000 total in grants to the Arlington. Bartlett, Collierville, Germantown, Lakeland and Millington Chambers of Commerce for local economic development initiatives. A Committee created by the EDGE/DRC Chairman will allocate funds to the individual chambers and approve disbursement of all funds. FY 2018 proposed projects will be evaluated and funded during FY 2019, along with the FY 2019 projects. Tom Dyer moved the EDGE Fiscal Year 2019 Budget be approved as presented. The motion was seconded by Cary Vaughn. After Board discussion, the motion was approved on an affirmative vote of the following members: Dr. Florence Jones, Jack Moore, Johnny Moore, Cary Vaughn, Al Bright, Tom Dyer, Mark Halperin, Larry Jackson. (Cumulative: $5,024,800)

EDGE Board: June 19, 2019 – Based on the Service Agreement between EDGE and the Depot Redevelopment Corp,, EDGE approves die following DRC funding during FY 2019: (1) a $671,000 grant to the Greater Memphis Alliance for a Competitive Workforce (GMACWorkforce) for operating expenses related to workforce development efforts; (2) $300,000 total In grants to the Arlington, Bartlett, Collierville, Germantown, Lakeland and Millington Chambers of Commerce for local economic development Initiatives. A Committee created by the EDGE/DRC Chairman will allocate funds to the Individual chambers and approve disbursement of all funds. The motion was seconded by Larry Jackson. After Board discussion, the motion was approved on an affirmative vote of the following members: Jack Moore, Johnny B. Moore, Cary Vaughn, Tom Dyer, Larry Jackson, Mark Halperin,          Dr. Florence Jones. (Cumulative: $5,995,800)

EDGE Board: June 17, 2020 – Based on the Service Agreement between EDGE and the Depot Redevelopment Corporation of Memphis and Shelby County, EDGE approves the following DRC funding during FY 2021: (1) a grant not to exceed $270,000 to the Greater Memphis Alliance for a Competitive Workforce (GMACWorkforce) for operating expenses related to workforce development efforts: and (2) $300,000 total in grants to the Arlington, Bartlett, Collierville, Germantown. Lakeland and Millington Chambers of Commerce for local economic development initiatives. A Committee created by the EDGE/DRC Chairman will allocate funds to the individual chambers and approve disbursement of all funds.

Based on the Service Agreement between EDGE and the Depot Redevelopment Corporation of Memphis and Shelby County, EDGE authorizes the Depot to forgive/write-off the $988,520.66 loan from the Depot to EDGE, which funded the demolition of the dock at the Public Terminal on Presidents Island. In addition, EDGE authorizes the amendment of the Promissory Note for the revolving line of credit extended by the Depot to the Industrial Development Board of Memphis and Shelby Co., extending the term to June 30, 2024. The motion was seconded by Larry Jackson. After Board discussion, the motion was approved on an affirmative roll call vote, with the following members voting “aye”: Al Bright, Dr. Florence Jones, Larry Jackson, Natasha Donnerson, Tom Dyer, Mark Halperin, Jack Moore, Johnny Moore, Cary Vaughn. (Cumulative: $7,554,321)

EDGE Board: June 16, 2021 – Based on service agreement between EDGE and the Depot Redevelopment Corporation (DRC) of Memphis and Shelby County, EDGE approves and the DRC agrees to, an FY 2022 DRC allocation of $320,000 in grants to the Arlington, Bartlett, Collierville, Germantown, Lakeland and Millington Chambers of Commerce: $300,000 for FY 2022 local economic development initiatives plus $20,000 for unspent FY 2021 economic development activities. A committee created by the EDGE/DRC Chairman will allocate the funds to the individual chambers and approve disbursement of funds.

Based on service agreement between EDGE and the Depot Redevelopment Corporation (DRC) of Memphis and Shelby County, EDGE approves and the DRC agrees to, an FY 2022 DRC allocation of $100,000 to the Greater Whitehaven Redevelopment Corporation to fund the Executive Director’s position.

Based on service agreement between EDGE and the Depot Redevelopment Corporation (DRC) of Memphis and Shelby County, EDGE approves and the DRC agrees, to write-off the promissory note for the revolving line of credit extended by the DRC to the Industrial Development Board of Memphis and Shelby County, Tennessee, on 4/30/2012 and extended on 6/17/2020, for the Paul R. Lowery Road project, with an outstanding balance of $1,200,000.

Based on service agreement between EDGE and the Industrial Development Board (IDB) of Memphis and Shelby County, Tennessee and the Depot Redevelopment Corporation (DRC) of Memphis and Shelby County, EDGE approves and the DRC agrees to, an FY 2021 allocation of $1,900,000 from the IDB and $100,000 from the DRC to fulfill the 2019 obligation to FedEx Logistics (see note 3 above). The motion was seconded by Natasha Donerson. After Board discussion, the motion was approved on an affirmative roll call vote, with the following members voting “aye“: Tom Dyer, Dr. Florence Jones, Gerre Currie, Natasha Donerson, Larry Jackson, Mark Halperin, Cary Vaughn (Cumulative: $9,254,321)

SOUTH MEMPHIS DEPOT BENEFICIARY DISINVESTMENT TOTALS

MEDIA REFERENCES

The Margin – “We Glow in the Dark” – The Margin is a national publication environmental justice publication out of New York.

Fox13 – Local news Depot report

Fox13 – Local news follow up on previous Depot report

Shelby County Commission Committee – Start at 5:50:20. The hearing is 40 minutes

Fox13 FedEx $2M Grant – On the EDGE $2M disbursement to FedEx, $1.3 came from the Depot, with $1.2M being funneled through the Industrial Development Board and $100,000 coming directly from the Depot.

JustMyMemphis – Pastor Leonard Dawson of Cane Creek Missionary Baptist Church speaks out about the absence of morality and accountability regarding direct public South Memphis disinvestment.

As of 8/1/23, the EDGE/DRC story has NOT been reported by the Daily Memphian, Commercial Appeal, Tri State Defender or MLK50. Nor has it been reported on Local24, WREG or WMC. Initial reporting, took 14 months to occur with The Margin, since the initial attempt to dissolve the Depot Board, in the midst of community opposition at the July 2021 EDGE meeting, and 19 months for it to occur on Fox13.