City approves TIF bond for Margaritaville streets
Published: June 22,2011
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
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- White House hotel making comeback in Biloxi
- McCarthy hired as CFO of Mississippi Development Authority
- State GOP chairman calls on McDaniel to hurry with challenge
- Fair cabins becoming more valuable, sources say
- Guns OK inside Mississippi polling places, attorney general says
- MARTIN WILLOUGHBY — Tyler Raborn finds success and fulfillment with Raborn Media
- Three indicted, alleged to have embezzled from agency
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau
- Cal-Maine strikes joint venture deal with Arizona company
- Nehi Bottling Company has been a Cleveland fixture for 85 years