Another financial plan for proposed mall earns approval
by Associated Press
Published: October 3,2013
Tags: city, city government, City of Hernando, Commercial Real Estate, county, county government, Darren Musselwhite, DeSoto County, DeSoto County Board of Supervisors, finance, infrastructure, municipal, municipality, plan, Poag Lifestyle Centers, poutlet mall, retail, retailer, retailing, road, shop, shopper, shopping, Simkin Group, Southaven Board of Aldermen, street, tax, tax increment, tourism, tourist, visitor
SOUTHAVEN — A new financing plan has surfaced to pay for roads, water and sewer for a proposed outlet mall to be built in Southaven.
The Commercial Appeal reports Southaven Board of Aldermen and the DeSoto County Board of Supervisors agreed last year to a $15-million tax increment financing plan to offset the costs of the public infrastructure for the mall project.
Southaven Mayor Darren Musselwhite said developers are seeking help from the state to pay for roads and other infrastructure for the mall.
He said Poag Lifestyle Centers and the Simkin Group plan to apply for sales tax incentives through the state’s tourism rebate program.
The tourism rebate, if approved, would cover as much as 30 percent of the costs incurred by the developer over a 10-year period.
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