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Prices Creek TIF plan adopted, authorizes up to $25M for several projects
Summary
Council approved the Prices Creek Investments tax‑increment financing plan, authorizing up to $25 million in bonds across multiple projects that one consultant said are already in various stages of preparation.
Picayune’s council adopted the Prices Creek Investments TIF plan, which consultants described as a developer‑led package of five projects and an authorization to issue up to $25 million in bonds across those projects.
Consultant Lawrence Lions said the developer has completed much of the preparatory work and has begun construction on at least one element. The council approved the resolution on voice vote after the public hearing; the action authorizes the city to negotiate security reimbursement agreements with the developer for eligible infrastructure costs and to consider bond issuance subject to verification and market conditions.
Councilwoman Stevens moved to adopt the Prices Creek plan and Councilman Hickman seconded the motion. With the plan on file in the clerk’s office and notice published, the council found the hearing record sufficient to adopt the plan at this meeting.
