Tax credit bill could put wheels in motion for Centennial Plaza development
GULFPORT, MS (WLOX) - Three years after the announcement of development at Centennial Plaza in Gulfport took place, there may finally be some movement on the property. That's because in the past legislative session, lawmakers passed a historical tax credit bill.
That means developers of Centennial Plaza could receive up to 25 percent in tax credits for every dollar they spend.
Dr. John Kelly is the chief administrative officer for the City of Gulfport. He said the development group, Le Triomphe, could break ground by the end of the year.
Plans still include a Holiday Inn resort. Other developments could include apartments and condominiums, a festival marketplace, as well as retail shops.
Kelly said the total amount of the investment could reach $150 million.
Whatever development does take place will have to be done in conjunction with the Mississippi Department of Archives and History. That's because several of the buildings on the old VA property are considered historic.
Doug Walker is taking a closer look at the story. Watch for it tonight on WLOX News Now and on WLOX.com.
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