The central figure in Static is a gangster who has been unjustly imprisoned, and is on his way to testify against the bad cops that put him away. Problematically, there are a lot of other bad cops and rival gangsters trying to keep him from doing so. Thus, it's up to the poor, misunderstood gangster and his "loyal posse" to get to the courthouse on their own. So, basically, it's 16 Blocks, except with a posse instead of Bruce Willis, and without Mos Def. Super.
Static has been on the books at Original Film (a Sony-based company that is supervising the film) for years, and has been set up in the past with both Stephen Kay and Chris Robinson (not the Black Crowe, the guy who made ATL) at the helm.