UPDATE: Business incubator contract retracted

By Emily Le Coz/NEMS Daily Journal

TUPELO – The Lee County Board of Supervisors this morning retracted the contract for the expansion of the Renasant Center for IDEAs, the downtown business incubator.

Supervisors on Feb. 1 had selected CIG Contractors of Corinth for the $5.4 million expansion project, which would involve construction of a three-story building next to the existing Renasant Center.

The contract was rescinded today on a technical matter, but supervisors also are considering whether to hold off on the project as they worry about paying off debts.

Check back at NEMS360.com for updates as they become available.