Jackson Family Center Gets Extension

[billyworld99]

15-7-2010) On Wednesday, Gary, Indiana's Board of Public Works and Safety approved a 60 day time extension for the transfer of 5 parcels of land to the Jackson Family Foundation. The land is to be given to a developer with the purpose of building a tribute to the family of Michael Jackson in Glen Park.

The deadline on the original deal passed earlier this month but had allowed for extra time if all parties agreed. Attorneys for Gary stated they are waiting for the Jackson Family Foundation to establish status as a not-for-profit entity with the state and the Internal Revenue Service before the land is transferred.

Last month, Mayor Rudy Clay and Joseph Jackson announced plans for the $300 million entertainment complex, to be built where South Gleason Golf Course and Gilroy Stadium are now found. The Jackson Family Center, as proposed, would include a Michael Jackson Performing Arts Center, a Jackson Family museum and possibly a casino.

Michael's parents, Joseph and Katherine Jackson, signed the original agreement approved June 2 by the Board of Works. On July 5, Las Vegas promoter Simon Sahouri's signature appears on the new document, listing him as president of the Jackson Family Foundation and the Jackson Development and Marketing Corp. The document further states that Sahouri is authorized to approve the document on Joseph and Katherine Jackson's behalf.

Sahouri said the goal is still to break ground on the project in 2011.

"When you do a project like this you want to make sure everything's in place," Sahouri said.

Though the Jacksons claim in the agreement to have the rights to use the name and image of Michael Jackson, an attorney for the singer's estate said it owns that right exclusively and has not given its blessing to the Gary project.

Last month, Michael Jackson's brother Randy publicly questioned the validity of the Jackson Family Foundation.


Source: MJFC / Post-Tribune

 

[Big Apple2]

The deadline on the original deal passed earlier this month but had allowed for extra time if all parties agreed. Attorneys for Gary stated they are waiting for the Jackson Family Foundation to establish status as a not-for-profit entity with the state and the Internal Revenue Service before the land is transferred.

Oh that's a very interesting "little" development. They made that whole big showing and the land is not even transferred yet. Which means all of that testing that needs to be done on the land, hasn't been done yet.

At this point, I'm "guessing" that monies have already been going into this supposed Family Foundation, and since it's not yet established as a not-for-profit entity, I'm also "guessing" that those in charge can use said monies as they wish, until the foundation is established as a not-for-profit.

And then of course, there's the INTERNAL REVENUE SERVICE. I hope everybody involved keeps things on the up-and-up, or there will be hell to pay. Nobody, and I mean NOBODY, wants the Internal Revenue Service breathing down their backs!

Oh and Randy's "input" just makes everything MORE weird, in my opinion.

(Thanks for posting. The information within is very interesting.)