City eyes incentives for downsized shopping center expansion
MERIDIAN, Miss. (AP) — Officials in an east Mississippi city are considering granting tax incentives to a shopping center expansion, even though it’s smaller than once planned.
The Meridian Star reports that Meridian officials were asked recently to issue tax-increment financing bonds, which would use the local share of sales taxes to finance improvements such as sidewalks, sewers and parking.
The current developer plans a three-store development and has one current tenant. Previous plans called for a larger shopping center with tenants such as Hobby Lobby, Dick’s Sporting Goods and Kirkland’s.
Meridian City Council President George Thomas says council members have to decide whether the development merits the aid.
Meridian Mayor Percy Bland say an agreement could come in June.
Collett Capital of Charlotte, North Carolina took over the project from a previous developer.
Information from: The Meridian Star, http://www.meridianstar.com