Councilmen vote to lease land for proposed Oyster Bay Casino
Published: April 4,2012
D’IBERVILLE — The city of D’Iberville will share in the profits of Oyster Bay Casino if the resort is built.
The city council yesterday agreed to lease the waterfront land on the Back Bay near the Jackson County line.
City Manager Michael Janus told The Sun Herald the city’s parcel is needed to make the property a legal casino site because it touches the water at the mean high tide line.
City attorney Fred Hornsby III said once a casino is built, the lease on the land is $150,000 a year, increasing by $50,000 every 10 years. The city also will collect 2 percent of gross casino revenue from $15 million to $25 million and 1 percent for winnings more than $25 million.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Peavey's wellness program honored after workers drop 1,000 pounds
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Watkins says JRA out to block him from Farish by repaying HUD $1.5M
- Mississippi Film Studios signs contract with New Orleans company
- State renews battle over water use with city of Memphis
- Mars Food expanding Delta plant; investing $31M and adding jobs
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Biloxi baseball project still alive but may be held for 2015