The Tupelo City Council on Dec. 16 approved a five‑year commercial ad valorem tax exemption for 213 West Main Street, a downtown property formerly housing the CREATE office.

City staff said the property sold for $1,000,000 and the new owner has invested $804,363.17 into revitalizing the building. Under the city’s downtown incentive program, projects that spend more than $10,000 on construction may receive a five‑year tax abatement that freezes the property tax at the valuation prior to redevelopment. Staff recommended the exemption and the council approved the application.

Councilors did not record extended debate on the application at the meeting; the motion to approve was moved and seconded and carried. Staff identified the law firm/firm certification as Franks, Franks, Wildman and Heygood in the application materials presented to council.

The exemption will freeze municipal ad valorem taxes at the pre‑redevelopment assessment for five years; the transcript does not provide projected tax revenue impacts or the new assessed value after improvements.