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Gulfport council tables citywide tax-abatement ordinance after extended debate over terms
Summary
The Gulfport City Council paused consideration of a proposed ordinance that would let the city grant ad valorem tax abatements for capital projects of $10 million or more, after council members disagreed over length and percentage of abatement and whether the city should require a direct return to municipal coffers.
The Gulfport City Council on Thursday tabled consideration of an ordinance that would authorize the city to grant ad valorem property tax abatements for capital improvements of $10,000,000 or more, after about two hours of debate about the size of incentives, job commitments and how the city should compete with neighboring jurisdictions.
The ordinance on the floor would give the city authority to abate only its own ad valorem real-property taxes for qualifying projects. Under state law as explained in the meeting, the abatement period for a project could not exceed seven years; the draft ordinance itself would have a 10-year sunset unless renewed.
Council members split on how generous Gulfport should be to prospective developers. Mayor Hugh D. Keating and other supporters said a near-100% temporary abatement is commonly used by neighboring cities and is needed to attract major retail and mixed-use projects. “If you don’t give them the 100%,…
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