Harrison County supervisors will consider a request Monday to add $1.4 million to a tax-increment financing project in Biloxi.
The money will be used to complete Elzey Place, a road adjacent to the Wal-Mart Neighbood Market on Popp’s Ferry Road in North Biloxi, Biloxi spokeman Vincent Creel said.
Biloxi hopes to increase development in the area by extending Elzey Place north from Popp’s Ferry to Medical Drive, which ends at Cedar Lake.
In the original plan, Creel said, the city pledged 100 percent of its property taxes on the Wal-Mart building and 50 percent of the county’s property taxes to repay $2.5 million in TIF bonds.
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The amendment the county will consider Monday will add $1.4 million to the debt. The county’s proposed resolution says Biloxi has pledged up to 100 percent of the retail sales taxes it receives from the Wal-Mart store and other stores in the surrounding TIF district to repay the debt.
The board will have a public hearing at 9:30 a.m. Monday at the Board of Supervisors meeting in the Gulfport Courthouse for taxpayers to comment on the plan. No one spoke at a similar hearing last year before the county approved the original TIF project.
“That Neighborhood Market wouldn’t be there if we hadn’t done the TIF,” Creel said.