Supervisors approve TIF redevelopment plan
Published: November 15,2011
JACKSON COUNTY — Jackson County Supervisors have adopted a tax increment financing (TIF) redevelopment plan, which allows it to begin offering incentives on major developments.
The Mississippi Press reports tax increment financing is a reimbursement-based funding mechanism that uses future gains in taxes to finance infrastructure improvements on a property.
The county had to adopt the plan to become eligible to offer TIF funding.
While yesterday’s vote did not address any specific projects, county leaders have said they would consider working with the city of Gautier to support a $90-million project is to redevelop Singing River Mall and the Gautier Plaza Shopping Center.
The county will hold a public hearing on that specific project and $20-million TIF agreement Dec. 12.
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