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EDA gives nod to expansion

TUPELO — The Lee County Board of Supervisors and the Community Development Foundation (CDF) have officially been approved by the U.S. Department of Commerce, Economic Development Administration (EDA), for the phase II expansion of the Renasant Center for IDEAs, Tupelo/Lee County’s regional business incubator, with application made through Three Rivers Planning & Development District.

The phase II expansion will include a separate three-story complex of 24,300 square feet at the current location on the southwest corner of Main and Elizabeth streets in downtown Tupelo’s Fairpark District, at an estimated cost of $5.4 million. The new phase would add flexible, innovative, business start-up space with shared conference and training rooms, and will house the CDF staff. The building will also be designed for LEED certification, providing Tupelo’s first LEED-certified building in the downtown area.

EDA will provide $2.7 million with Lee County and CDF matching the remaining $2.7 million for the funding of the project.

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