City approves bonds for roads for shopping center
Published: October 16,2013
Tags: bond, city, city government, City of D'Iberville, construction, D'Iberville City Council, finance, financing, infrastructure, road, roadbuilding, Roy Anderson Corp, tax-increment finance bond, The Galleria
D’IBERVILLE — The D’Iberville City Council approved about $17 million in tax-increment finance bonds to build roads around The Galleria shopping center.
The council approved the bonds at yesterday’s meeting.
The Sun Herald reports the city used similar bonds to finance infrastructure along Sangani Boulevard and The Promenade shopping center.
The new million-square-foot mall, restaurants and hotel will be built in one phase and provide 2,500 permanent jobs.
Roy Anderson Corp. will build the project, which will cost more than $300 million. Staging and site work are expected to begin in January and 400 to 500 construction jobs will provide a payroll of $60 million.
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