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Rezoning near Margaritaville could cost Coast millions

Secretary of State Delbert Hosemann says the Mississippi Gulf Coast will lose millions of dollars in tax revenue if Biloxi’s proposal to rezone 20 acres of waterfront property where Margaritaville developers want to build a $140 million expansion.

Hosemann says rezoning the property and leasing it for only $2 per square-foot would result in the Coast losing $25 million.

Local news outlets report Hosemann said in Gulfport Wednesday the property does not need to be rezoned for development expansion. In addition to Hosemann asking the city not to hold a rezoning hearing, the state is waiting on a property appraisal.

Barrington Development opened Margaritaville Resort in June. Barrington now wants to build a hotel on land the company owns next to the Great Lawn at Harrah’s Gulf Coast and an amusement park between the two hotels.

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