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Tag Archives: financing

City extends term of tax increment financing plan for mall

SOUTHAVEN — Officials have extended the time frame of the $15-million tax increment financing plan for the proposed outlet mall in Southaven. The Commercial Appeal reports Mayor Greg Davis made clear the amount of funding was not changing, just the time period for the plan was being extended from 15 years to 20 years. Tax increment financing is a plan ...

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Governor's prosposing to cut most agencies by 1.5 percent

JACKSON — Gov. Phil Bryant is proposing that most state agencies take a 1.5 percent budget cut during fiscal 2014, which begins next July 1. Republican Bryant released his $5.8-billion spending plan yesterday at the Capitol. It’s 2.3 percent larger than the current year’s budget of nearly $5.7 billion. Legislative leaders release their own fiscal 2014 plan Dec. 11, and ...

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Supervisors to take out bond to build levee for KiOR

NATCHEZ — The Adams County Board of Supervisors is advertising its intent to take out a bond that will not exceed $7.5 million as part of the KiOR levee project. The Natchez Democrat reports the funds from the bond will be channeled toward the construction of a levee on the site of the former Belwood Country Club, where KiOR has ...

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Hotel developer gets tax-in-lieu-of-financing grant

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 ...

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County takes out $650K loan, renegotiates bond terms

NATCHEZ — The Adams County Board of Supervisors has voted to take out a $650,000 loan to fund road work and also voted to renegotiate an approximately $2.6 million road bond to reduce the payments the county pays on the bond each year. The Natchez Democrat reports the supervisors awarded a bid for the $650,000 “negotiable note” to Concordia Bank ...

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SBA offering loans to more drought-stricken counties

BENTON COUNTY and MARSHALL COUNTY — The U.S. Small Business Administration is making available federal economic injury disaster loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Benton and Marshall counties in Mississippi as a result of the drought. Under this declaration, the SBA’s Economic Injury Disaster ...

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Community Bancshares acquires Florida holding company

BRANDON — Community Bancshares of Mississippi Inc., the holding company for Community Banks throughout the Southeast, has acquired Community Holding Company of Florida Inc. and its subsidiary bank. Terms were not disclosed. With the completion of the Florida transaction, Community Bancshares will now operate Florida offices in Miramar Beach and Crestview. Freddie Bagley, CEO of Community Bancshares, said: “The headlines read ...

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SBA offering disaster loans in four southern counties

SOUTH MISSISSIPPI — The U.S. Small Business Administration announced today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes as a result of drought that began Jan. 3. The SBA’s disaster declaration includes the following counties: Hancock, Harrison, Pearl River and Stone. ...

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City budgets $175K to finance proposed annexation

PASCAGOULA — An additional $175,000 will come out of the Pascagoula general fund this fiscal year to finance annexation. The Mississippi Press reports city leaders approved the budget amendment. The city’s plan to annex about 21 square miles east of the city got rolling in fall 2010, and has been a subject of debate ever since. Proponents say that the ...

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Full House lands financing to purchase Silver Slipper Casino

BAY ST. LOUIS — Las Vegas, Nev.-based Full House Resorts reports it has obtained financing commitments for new credit facilities totaling $75 million to fund the company’s acquisition of the Silver Slipper Casino. The financing will consist of a $55 million first lien credit facility and a $20 million second lien facility. Capital One N.A. will serve as administrative agent ...

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