PASCAGOULA, Mississippi -- Supervisors this morning took their first step in making Jackson County eligible to offer tax increment financing on major developments.
Tax increment financing is a reimbursement-based funding mechanism that uses future gains in taxes to finance infrastructure improvements on a property.
The first steps for the county to become eligible are preparing a TIF redevelopment plan, presenting it to residents at a public hearing and having the planning department review the plan for its conformity with the county's' overall comprehensive plan.
The Board of Supervisors agreed to initiate the planning department review and set a public hearing for Nov. 14.
After receiving public comment, making any necessary adjustments and adopting the redevelopment plan, the county is eligible - but not obligated -- to offer tax increment financing.
Supervisors said they could later decide to offer the financing to the Singing River Mall redevelopment project.
Source: http://blog.gulflive.com/mississippi-press-news/2011/10/supervisors_hoping_to_offer_ta.html
janeane garofalo janeane garofalo neil degrasse tyson neil degrasse tyson braves braves harrys law
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