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Hinds Approves King Edward Financing Support
Bryant Hawkins
Supervisor Doug Anderson protested the size of the county's contribution to the project before ultimately voting for approval.
by Ward Schaefer
December 7, 2009
Hinds County Supervisors approved a tax increment financing plan to support the King Edward Hotel renovation at a meeting this morning. The plan requires the county to cover 85 percent of any increase in property taxes due to the development for the next 20 years or up to $2.8 million, whichever comes first. During that period, the King Edward developers, HRI Watkins, will pay only 15 percent of any increase in property taxes as the area rises in value.
The Board of Supervisors voted unanimously for approving the TIF plan, but only after District 2 Supervisor Doug Anderson protested the county's large contribution.
"I just think this is a heck of a time for us to participate in a TIF at 85 percent, when the county is laying off workers, and a new proposal is to lay off additional employees," Anderson said. "I just think we are digging one heck of a hole in our budget in terms of financing this at 85 percent."
Anderson asked why the county had not sought a lower contribution of 50 percent, which would have allowed it to use more of the added tax revenue for other purposes.
"I know that when the King Edward people came to us, it was strongly suggested that they needed our help," Supervisor Peggy Calhoun told Anderson.
Board President George Smith pointed out that the county has approved even higher contributions for other developments. For the Target store on County Line Road and the Wal-Mart on Highway 18, the county covered 100 percent of tax increases.
"I think we are helping ourselves," Smith said. "(The King Edward is) getting ready to have a soft opening this month, which means they are going to start hiring employees. Those employees may be buying homes."
posted by .(JavaScript must be enabled to view this email address) on 12/07/09 at 02:10 PM. [printer version] Share |
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May 24, 2012 | 09:34 PMBryant Signs Voter ID Bill
golden eagle: @notmuch, here are some facts about voter fraud, straight from the Brennan Center's website: Fraud by individual voters is both irrational and extremely rare. Most citizens who ...
May 24, 2012 | 07:14 PM
Bryant Signs Voter ID Bill
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May 24, 2012 | 07:11 PM
Bryant Signs Voter ID Bill
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May 24, 2012 | 06:46 PM
Bryant Signs Voter ID Bill
golden eagle: I don't think you could've found a more partisan right-wing site than the Daily Caller. The fact of the matter is that the right is using this issue not as a means of improving ...
May 24, 2012 | 06:10 PM
[Dish] Cobby Williams, Young Gun
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May 24, 2012 | 05:00 PM
Bryant Signs Voter ID Bill
notmuch: I don't think you could have found a more liberal example of a "non-partisan" site, but even so, their evidence seems to consist of 250 carefully chosen instances in one area of ...
May 24, 2012 | 04:48 PM
Bryant Signs Voter ID Bill
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May 24, 2012 | 04:30 PM
Bryant Signs Voter ID Bill
notmuch: I might be missing something here, but I am a little confused by Golden Eagle's points: "the fact is that voter fraud is extremely rare"--so it is of no consequence that some ...
May 24, 2012 | 11:26 AM
Nick Hanauer's 'Controversial' TED Talk -- Tax the Rich?
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May 24, 2012 | 10:18 AM
Bryant Signs Voter ID Bill
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May 24, 2012 | 06:18 AM
Bryant Signs Voter ID Bill
Darryl: That's funny that you blocked my last comment...
May 24, 2012 | 05:31 AM
Nick Hanauer's 'Controversial' TED Talk -- Tax the Rich?
Renaldo Bryant: So true. This is why critical and analytical thinking are so important to citizens in a democracy. The rich have the power to shape perception ...
May 23, 2012 | 05:24 PM
Bryant Signs Voter ID Bill
Darryl: justjess, you stated "Racism and discriminatory practices continue." What objective data do you have to support this? Calling someone unqualified is a subjective interpretation of ...
May 23, 2012 | 01:37 PM
Bryant Signs Voter ID Bill
golden eagle: Wow, my English was bad on the previous post. You know how it is on these iPhones.
May 23, 2012 | 12:30 PM
Bryant Signs Voter ID Bill
golden eagle: @Jess, I think the word you're looking for is "assassination". @Darryl, do we really know that the majority of MS'ians wanted this, when you consider that this was a ...
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