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Board approves contract amendment with Kaplan Management, authorizes $295,000 payment for lane extensions
Summary
Council approved a contract amendment with Kaplan Management Industry LLC tied to redevelopment of a 10-acre May Boulevard parcel; amendment requires a PUD amendment and authorizes the city to pay $295,000 for lane extensions as part of the deal.
The Southaven Board of Aldermen approved a contract amendment with Kaplan Management Industry LLC related to a 2019 property sale on May Boulevard and future hotel development plans.
City legal staff explained the amendment restores timing requirements from the original 2019 agreement, requires a PUD amendment that will be reviewed by planning staff and the planning commission, and authorizes city payment of $295,000 toward lane extensions at the May Boulevard site. City attorneys and planning staff indicated the amendment applies specifically to the corner lot while the broader 10-acre parcel will come back for a full PUD amendment review.
Board members noted the property had been marketed since 2018 with incentive provisions intended to spur development; speakers said prior market conditions and access constraints delayed the project. The motion to approve the amendment passed on roll call.
