City approves TIF bond for Margaritaville streets
by Associated Press
Published: June 22,2011
Tags: bonds, casinos, construction, gambling, gaming, hospitality, hotels, lodging, municipal government, restaurants, roads, streets, tourism
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
![[RSS Feed]](http://i2.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/rssfeed.png)
![[del.icio.us]](http://i0.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/delicious.png)
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Fervor grows for Tuscaloosa Marine Shale
- Mississippi Power CEO's departure due to withholding Kemper information from regulators
- Hosemann revels in victory over Court's redistricting ruling
- LNG facility hoping to begin exporting natural gas
- Tenn. company makes unspecified offer to lease hospital
- Nullification and interposition
- Airport's food irradiation business could create new jobs
- In wake of bond issue failure, golf course fights to stay playable
- Ag officials say late planting reaching historical proportions
POST A COMMENT