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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS — From Dan and Dixie with love
- BREAKING NEWS: Trustees offer new deal to Ole Miss chancellor Dan Jones
- Law to bolster utilities’ economic development efforts gets mixed reactions
- Developers withdraw zoning application for former country club
- Lawmakers: Time to raze IHL
- Rhythm & Blues Hall of Fame planning gets underway
- DAVID WILLIAMS: Smart traffic signals pave way for better driving in connected world
- Office occupancy edged up throughout Metro Jackson
- Supermarket incentives for distressed communities die in House