The Northeast Mississippi Planning and Development District (NMPDD) operates a revolving loan fund to promote long-term economic growth by creating jobs and stimulating private investment. The district’s credit policies have not been consistent with federal and internal lending regulations or sound banking principles. The district made loans to parties related to district employees and agents by business or marriage, which may violate federal conflict of interest guidelines. NMPDD also has not followed federal grant agreement conditions prohibiting one district employee from association with certain grant programs, thus jeopardizing the district’s funding from that federal agency.
For a paper copy of this report, contact PEER by telephone at 601-359-1226 or by e-mail at reports@peer.ms.gov.