Mississippi Administrative Code
Title 6 - Economic Development
Part 4 - Community Services
Chapter 12 - Mississippi Main Street Investment Grant Fund
Rule 6-4-12.16 - Property Acquisition Proposal

If property acquisition is proposed, the Applicant must not purchase a building or facilities from individual(s), company(ies), or corporation(s) with MMSIGF proceeds, and subsequently lease them to the seller (previous owner) within 5 years of acquisition. The Applicant may not purchase a building that has been constructed in the last six months and may not purchase an existing building or facility for more than the appraised value. Before releasing any MMSIGF proceeds, the Applicant must provide title insurance on all real property acquisitions or title opinion on all other projects from the Applicant's attorney.

Miss. Code Ann. § 57-1-601