The Corps and the developers have different views. The Corps is proposing a levee-only system, while the private developers are envisioning new commercial/residential development, parks, puplic space, and lake development (see below). The plan sounds great, but can Jackson support this type of development? Its downtown area is by no means thriving with is current vacant, run-down buildings.

Source: twolakesms.com
Alternatively, the Corps has concluded that a levee-only plan is the most feasible solution (an engineered solution to say the least), but states that any type of lake development would create adverse impacts to the environment (yes, building in the flood plain would do that).
I don't know whose side to take, but the questions I raise are: If the ultimate goal with the project is flood control, what will be the base water level in the lake? Will the lake have capacity to withstand flood waters? Will the development look like a mud flat half of the year?
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