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.
Top Posts & Pages
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Analyst: KiOR Columbus plant may end up sold as scrap
- Warden who lives hundreds of miles from jail resigns
- Jail kitchen supervisor pleads guilty to stealing food
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- The link between education and economic development