Galleria unlike anything the Gulf Coast has ever seen
D'IBERVILLE, MS (WLOX) -
A unanimous vote Tuesday night by the D'Iberville City Council was also a celebrated one. After more than a decade of research and development, a new million-square-foot Galleria is coming to D'Iberville. Mayor Rusty Quave is thrilled with this major project and the tax revenue it will generate.
"We've got a piece of property out there that we draw $16,000 a year right now in ad valorem," Mayor Rusty Quave said. "We're going to get at least $600,000 a year the first seven years, and that will go to $2.5 million in sales tax."
He also says $12 million worth of secondary roads and $180 million in off ramps will be built with money from MDOT and the city's 20 year Tax Incentive Fund, or "TIF" bond.
"And we pay the debt service from the taxes generated from the project. If the project doesn't generate any more tax, the developer is on the line to pay the difference in the tax," Quave said.
Developer "CBL", "RAMCO" and Bob Mandal are the same ones who created the hugely successful Promenade. Longtime coast contractor Roy Anderson says this is that big-step forward the Gulf Coast needed.
"It's more diversity for our economy," Roy Anderson said. "It's a first class gaming project and entertainment facility. There's that much, the employment base at the end of the day, it's all about economic development."
Anderson says the Galleria will create at least 2,500 new jobs and even more construction jobs over the next several years and will bring the big city shopping experience home.
"This is going to be one of the first significant mall developments throughout the United States that's going to be right here in South Mississippi," Anderson said.
"It's a win-win situation for everybody," Quave said. "The city gets the needed roads and the off ramps from the interstate and the Gulf Coast gets a fine shopping facility, and it's just going to grow the whole market on the Gulf Coast."
Harrison County Schools are expected to get $750,000 in tax revenue each year from the Galleria, which should take three to four years to complete.
Even more growth is coming out of the Galleria project and proposed Ocean Expo nearby.
Kevin Coggin, Director of Coast Transit Authority, presented the council with CTA's final plans for a downtown transit hub that the council also unanimously approved. It will be in D'Ibverville's downtown French Market area near the visitor's center.
Architects Eley-Guild Hardy designed it to be an attractive, open air plaza with restrooms, waiting areas and lots of green space.
CTA is paying for the costs of the new D'Iberville transit hub with federal transportation funds with no cost to the city.
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.