Supervisors approve TIF redevelopment plan
by Associated Press
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
- Click Boutique revives Hattiesburg downtown retail district
- Fervor grows for Tuscaloosa Marine Shale
- KEEPING OUR EYE ON: Elizabeth Harris
- Brown would make history if confirmed as judge
- Real estate company paying $1M for compromising wetlands
- Nullification and interposition
- Authorities: Suspect in ricin-laced letters case appeared to try to run
- Froyo y’all: Couple brings 'delicious' dessert to Delta
- Undersecretary: 'I understand the frustration' over catfish inspections