Hotel developer gets tax-in-lieu-of-financing grant
Published: August 13,2012
COLUMBUS — A financing grant has been increased for a Columbus developer planning a hotel.
Columbus-Lowndes Development Link CEO Joe Higgins told the Lowndes County Board of Supervisors the tax-in-lieu-of-financing grant to Columbus Properties, LLC will increase from $3 million to $3.85 million.
The Commercial Dispatch reports developer Mark Castleberry said the money will be used to build a Hampton Inn and Suites hotel at a site on 18th Avenue North in Columbus.
The new hotel will be about the same size as the Fairfield hotel that operates nearby, Castleberry said. Construction on the Hampton Inn development likely will begin at the end of this year or in early 2013.
Construction on a 110-room Courtyard by Marriott hotel on the site is scheduled to begin next month.
Under the tax deal, Higgins told county supervisors the $3.85 million is only payable if the project reaches completion.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Judge moves McDaniel's lawsuit challenging loss to Cochran
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Officials set hunting dates for birds; expands dove season by 20 days
- TECH 21 — Mississippi's most wanted in technology
- DAVID DALLAS — Mississippi needs one university
- Scientists seeing more invasive trapjaw ants on Coast
- Trop Greenville ahead of schedule on significant expansion
- Judge rules for Fish and Wildlife Service in frog habitat case
- Diamondhead Casino Corporation wins site approval