City looking to enact redevelopment tax
by Associated Press
Published: December 28,2010
RIDGELAND — The City of Ridgeland will seek legislative — and ultimately voter — approval for a 1 percent increase in the local sales tax to redevelop a southeastern area and reduce the number of apartment complexes.
The tax would be very similar to the tourism tax currently levied on Ridgeland hotels, motels and restaurants, which is used to advertise events and enhance recreational facilities that attract visitors to the city, officials said.
The redevelopment tax would be levied on all sales, except from restaurants and hotels. Mayor Gary McGee said the tax could bring in between $6 million and $8 million a year.
McGee told the Madison County Journal that the city would be able to address a myriad of issues in southeast Ridgeland, one of the most pressing concerns for redevelopment.
He said the project will help them overhaul dilapidated areas that have been a source of numerous code violations and complaints. Moreover, the project would revitalize aging infrastructure to make the area more suitable for potential developers.
Alderman Scott Jones, who represents the area, said there would have to be funds expended both publicly and privately to accomplish their goals.
“We are looking to secure a source of funding,” Jones said. “Once we have money available, we can continue to the next phase of redevelopment.”
One area of concern has been several apartment complexes in the area that city leaders have been critical of due to their poor condition.
Recently code enforcement officials cracked down on the Baymeadows Apartments, issuing 1,585 individual code violations back in June.
The cost to make repairs and remedy the violations is estimated to be over $1 million and the issue is expected to go to Municipal Court soon.
Community Development Director Alan Hart said along with improved infrastructure these types of areas could be redeveloped into more updated properties.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “City looking to enact redevelopment tax”
Top Posts & Pages
- Hood clarifies opinion on open-carry gun law
- IKE TROTTER: There are primary changes in Social Security for 2014
- Expert on airlines predicts Jackson-Evers will keep remaining carriers
- C Spire launches next phase of 1-gig service rollout
- Court to hear case involving alligators and ExxonMobil
- MAN OF STEEL: Madhu Ranade leading Severstal Columbus
- Alcorn's finances being investigated; CFO resigns
- Officials hand mayor projects list totaling $57.7M
- Public meeting called to mull future of convention center
- Town given Obamacare insurance break, but faces additional costs in 2015