Southern Miss gets money from Point Cadet settlement
by MBJ Staff
Published: October 5,2012
Tags: dispute, education, funding, higher education, land, money, property, real estate, settlement, state agency, university
HATTIESBURG — Secretary of State Delbert Hosemann has presented the University of Southern Mississippi with a check for $366,100.
The funds are part of a settlement agreement reached in 2002 resolving longstanding land issues on a piece of property located at Point Cadet in Biloxi. As part of the settlement agreement, funds generated from rents on the Point Cadet property are distributed between the state, USM and City of Biloxi.
Including this payment, over $2.5 million has been distributed to Southern Miss as part of the settlement. The $366,100 check presentation is for fiscal year 2010-2011. Funds from fiscal year 2011-2012 will be distributed to USM in the near future, the Secretary of State’s Office reports.
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