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O’Keefe is a big deal in this tiny city within the heart for the Mississippi Delta. When house to millionaire cotton farmers, Clarksdale is, just like the other countries in the Delta, about 80% African United states. Its populace of approximately 16,000 to 18,000 individuals, happens to be decreasing for a long time.

Bubba O’Keefe, supported by Southern Bancorp CEO Darrin Williams, assesses damage in Paramount Theater . [+] from the phase.

Credit: Devin Thorpe

A white guy in a largely black city, O’Keefe may be the town’s official, compensated manager of tourism and generally seems to understand everybody else in city, including all the instantly guests. Even as we sit and talk from the sidewalk away from little bistro in just one of their structures, a vintage Woolworth’s store which had sat empty for a long time, he greets everybody else whom passes by.

While he is at no threat of being included with the Forbes 400 list any time soon, O’Keefe is successful because of the requirements associated with city. He owns more buildings than they can count right right here. He keeps the secrets to their numerous structures within an bank that is old case; you will find a large number of sets of secrets. He states he’s got ten or twelve loans with Southern Bancorp, such as the one in the Paramount.

O’Keefe sees the city in much the same manner as he views the movie movie theater because of the roof timbers now seated in a heap where an market ought to be. he could be confident that the roof could be fixed, additionally the movie theater are restored—or if you don’t restored, repurposed.

The Paramount Theater roof seated within the market

Credit: Devin Thorpe

“I would personally want to believe that it really is a doing arts center.” He’d prefer to name it for playwright Tennessee Williams whom saw their movie that is first at Paramount. Nevertheless, he’s perhaps perhaps not hitched to that particular eyesight. He appears confident that the strategy that is right possibility will fundamentally arrived at him.

There is certainly some proof of serendipity into the visible recovery that is economic underway right right here in Clarksdale, one of several locations where lay claim to being your home for the blues.

In 2002, Roger Stolle, a skilled marketer from Chicago, decided after visiting Clarksdale frequently for many years to maneuver right here completely. He started the Cat Head music shop downtown and instantly started marketing the city as well as its music.

Roger Stolle , owner of Cat Head

Credit: Devin Thorp[e

As he arrived, no body did actually understand, he states, whenever live blues music will be playing in the city. Many evenings, there isn’t any. During the period of years, he organized all of the venues in the city with an easy quid pro quo. He would promote it if they would commit to a schedule of live music. Today, you can easily experience real time music in one of the venues in the city 365 evenings per year.

Now, Ben Lewis stumbled on city from Seattle to simply just take a residential district development part for a state that is one-year and fell so in love with the city, even though their spouse stated before learning where in fact the brand new opportunity ended up being that she could live any place in the united states except Mississippi. Her moms and dads have actually bought a home that is second Clarksdale along with his moms and dads are buying a permanent house in city.

Lewis, who now earns a modest income operating a nonprofit called Meraki Roasting that helps youth in Clarksdale develop job skills and a application by utilizing them to roast coffee, was just in a position to buy a property because Southern Bancorp underwrites mortgage loans so it does not offer regarding the additional market, offering the lender the freedom in order to make loans other people can not.

The lender is definitely an crucial thread in this financial development tapestry. Another could be the Walton Family Foundation; 350 kilometers from Clarksdale, the building blocks has made financial development in the Delta a focus area. The 2 organizations frequently come together, often by accident. By way of example, the building blocks is really a source that is significant of for Maraki Roasting, which means that it indirectly made the home loan Southern Bancorp offered its executive manager, Ben Lewis, possible.

O’Keefe, and a lifelong buddy, Chuck Rutledge, organized a complex community development task in Clarksdale that received money from both the Walton Family Foundation and Southern Bancorp. The Travelers resort, (where we remained for approximately $100 for starters evening) that is operated by an musicians’ cooperative led by Rutledge along with his partner Ann Williams, is owned by a nonprofit. The $2.4 million task ended up being funded by a mixture of income tax credits for historic renovation, a grant through the Walton Family Foundation and home financing from Southern Bancorp.

Chuck Rutledge and Ann Williams outside of the Travelers resort in Clarksdale, Mississippi

Credit: Devin Thorpe

The financial institution plays a essential part in town for customers too. Jennifer Williams, no reference to Ann or Darrin, is really teacher in Clarksdale with three levels. This woman is additionally a survivor of the thriving storefront payday lending industry in Mississippi.

Williams claims she found myself in a strong spot years back and borrowed $400 from a payday home loan company. Every thirty day period, she ended up being expected to provide herself in individual to pay for $87.50 to move the mortgage over for another 30 days—with none of the amount serving to cut back the total amount. That amount on a credit card to have a minimum payment of about $87.50 each month—that would include at least some principal by comparison, it would not be unusual for a balance of ten times.

Needless to say, Williams discovered herself gradually going under. Her situation that is economic just getting even worse as she started taking out fully more payday advances. In the long run, she had applied for nine such loans from various storefront payday lenders in three towns. Simply driving around to help make the re re re badcreditloansadvisor.com/payday-loans-id payments had been like having a job that is part-time.

Jennifer Williams and Charlestien Harris