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City approves TIF bond for Margaritaville streets

BILOXI — City streets leading to the new Jimmy Buffett’s Margaritaville Casino & Restaurant in East Biloxi will be improved with a Tax Increment Financing bond.

The Biloxi Council voted to allow up to $1.65 million in TIF bonds for the project.

The money will be used by the developer to install turn lanes on Oak Street and Fifth Street and to widen Fifth Street from Oak Street to the entrance of Margaritaville.

The Sun Herald reports the bonds also will pay for curbs and gutters, drainage, lighting, signs and fees.

Michael Cavanaugh, attorney for Margaritaville, said the bonds will finance only public improvements to streets leading to the resort.

The target date for opening is the spring of 2012.

Source: The Sun Herald


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