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Tag Archives: financing

Developers of a 2nd Coast casino miss financing deadline

MISSISSIPPI GULF COAST — Developers of two proposed casinos for the Mississippi Gulf Coast have missed deadlines to secure financing to build their projects. Tuesday, Rotate Black, which has a site approval at the Gulfport Harbor to build the $112 million Hemingway Casino failed to meet the 5 p.m. deadline. Monday, developers for the Scarlet Pearl casino in D’Iberville missed ...

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KiOR borrows $25M; avoids defaulting on loan

COLUMBUS — Alternative-fuel maker KiOR Inc. has borrowed enough money to keep operating through August. The Pasadena, Texas, company, which has a $225-million plant in Columbus, had warned last month that it had to raise more money for research and plant improvements. KiOR, in a stock filing today, said it had completed a deal to borrow $25 million from an ...

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City approves bonds for roads for shopping center

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 ...

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Bank agrees to underwrite bonds for Delta town

LELAND — Planters Bank and Trust Co. will underwrite the sale of $1.5 million in bonds for the city of Leland. The Delta Democrat Times reports the Board of Aldermen accepted the company’s bid this past week. Planters’ bid was the only one the city received for the bond issue, which will be used to pay for resurfacing of several ...

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Delta city using tax increment financing for improvements

GREENWOOD — The city of Greenwood has devised a plan to help private developers pay for street, lighting and other improvements to the public infrastructure — tax increment financing. The Greenwood Commonwealth reports the city council approved the plan last week. TIF is a public financing method that provides communities with a means to fund redevelopment and infrastructure improvements. A ...

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Court sides with city in infrastructure-financing case

STARKVILLE — The Mississippi Supreme Court has thrown out a lawsuit challenging how the city of Starkville is paying for infrastructure improvements. The Supreme Court sided with the city which had contended local resident William McGovern waited too long to appeal a chancellor’s ruling in favor of Starkville’s municipal facility construction plan. Chancellor Jim Davidson threw out McGovern’s lawsuit on ...

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