TCI Realty of Dallas, a prospective partner with the City of Jackson on a convention center hotel, is racing the clock to gain a $70.1 million share of Mississippi’s tax-exempt Gulf Opportunity Zone bonds before they expire Dec. 31.
Meanwhile, the nearly $100 million project faces a council increasingly skeptical about inheriting a development partner from [...] [...]
The clock is winding down on a one-year extension for Gulf Opportunity Zone bonds, the key elements of Jackson’s deal with a private developer to build a convention center hotel.
Go Zone bonds and the tax-free opportunity they give bond buyers go away Dec. 31, but representatives from city hotel partner TCI-Investments, an arm of Transcontinental [...] [...]
by Associated Press Published: February 21,2011
Tags: ajor Economic Impact Act, Baxter Healthcare, Blue Springs, Columbus, GO Zone, Gray Swoope, House Ways and Means Committee, Hurricane Katrina, Memphis, Mississippi, Mississippi Development Authority, Percy Watson, Rep. Robert Johnson, Severstal, Toyota
By SHELIA BYRD
JACKSON — Lawmakers are asking the head of Mississippi’s economic development agency why the Delta and the southwestern part of the state are often overlooked for major industrial projects.
Gray Swoope, executive director of the Mississippi Development Authority, told members of the House Ways and Means Committee last Tuesday [...] [...]
WASHINGTON — Senators Roger Wicker (R-Miss.) and Thad Cochran (R-Miss.) report that their request to extend two important Gulf Opportunity Zone (GO Zone) provisions has been accepted and included in the Senate’s year-end tax extension package.
Wicker and Cochran sought to have GO Zone bonds and bonus depreciation added to the Senate tax extenders measure, [...] [...]
Of Mississippi’s 82 counties, 49 of them are located within the Go Zone region
Tax incentives created under the Gulf Opportunity Zones legislation in 2005 have helped spur economic development as the region recovers from hurricanes that rocked the region that year.
Extensions for the federal legislation have been approved by the U.S. Senate and await approval [...] [...]
MISSISSIPPI GULF COAST — The U.S. Senate has approved two amendments to expand and extend Gulf Opportunity Zone (GO Zone) tax benefits that are important to Gulf Coast recovery, according to U.S. Senators Roger Wicker and Thad Cochran.
The Senate accepted the two amendments by unanimous consent as part of the Tax Extenders Act (H.R. 4213), [...] [...]
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