WAVELAND, MS (WLOX) - Waveland's business incubator is on life support. The project was launched to spark economic development along Coleman Avenue after Hurricane Katrina. But today, the incubator isn't even open, and there's no money to run it.
The $3.4 million business incubator is only about a month away from completion. But its intended use, to help start-up businesses get off the ground, will never materialize.
"No, it will not run as an incubator," said Waveland Mayor David Garcia.
The mayor said the city budgeted $60,000 to run the facility. But Chamber of Commerce leaders estimate it will take $100,000 a year to staff and operate the center.
"Under our budget restraints, the Chamber's plan will not work," the mayor said. "The majority of that $60,000 that we have budgeted this year will go toward insurance on that building."
Garcia said instead of a business incubator housing several start up tenants, the city is now looking to lease the entire building to one business.
"Because the city of Waveland is now in the retail leasing business. We need to make it work and I think we can make it work."
Tish Williams, Executive Director of the Hancock Chamber of Commerce agreed, "I think it's important for the community to get behind the concept of bringing commerce back to Coleman Avenue, and we all need to support the city of Waveland in doing whatever needs to be done to bring that building into service."
She and others say the last thing anyone wants to see is a new $3.5 million building sitting empty.
"I would hope that the city would get a qualified realtor who has the contacts to find us a business or a restaurant to come into the incubator," said Ward 1 Alderwoman Lili Stahler.
City leaders said when they received grant funds to build the incubator, the national economy was good, insurance rates were in check and the housing market was sound. When those things changed, they said, it made running a business incubator less feasible.
Thursday, July 31 2014 2:17 PM EDT2014-07-31 18:17:53 GMT
A Gulfport woman has been charged with uttering forgery after she allegedly deposited more than $16,000 worth of fraudulent money orders at Coastal Credit Union.More >>
A Gulfport woman has been charged with uttering forgery after she allegedly deposited more than $16,000 worth of fraudulent money orders at Coastal Credit Union. Biloxi Police Department Investigator Steve Schlicht said Cynthia Ann Brosh, 57, turned herself in to authorities Wednesday afternoon.More >>
Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
31 people are in trouble with the law after a three day prostitution sting in Richmond. Police told NBC12 they targeted specific areas where residents and business owners complained about the illegal activity.More >>
Friday, July 25 2014 3:19 PM EDT2014-07-25 19:19:10 GMT
(WMC) – A prostitution sting was conducted at a Southaven hotel Thursday. As a result, the following 12 people were arrested: Preston K. Mitchell, 52, Memphis, Tenn., charged with procuring prostitutionMore >>
A prostitution sting was conducted at a Southaven hotel Thursday. Twelve people were arrested.More >>
Thursday, July 31 2014 2:38 PM EDT2014-07-31 18:38:38 GMT
The Evansville Police Department says a man is arrested after an attempted robbery early Tuesday morning. EPD says 50-year-old James Worthington is facing multiple charges after he attempted to rob aMore >>
EPD says 50-year-old James Worthington is facing multiple charges after he attempted to rob a customer at a west side gas station.