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Council approves Highland Parkway and Frontage Road TIF plan authorizing up to $30M
Summary
Picayune approved a Highland Parkway/frontage road tax‑increment financing plan allowing up to $30 million in bond authorizations to support commercial development in a targeted district.
After a public hearing, Picayune’s City Council approved the Highland Parkway and Frontage Road TIF plan, which the council authorized for up to $30 million in bonds to help pay for public infrastructure in that district.
Consultant Lawrence Lions explained that the plan is structured as a ‘‘global’’ district that can include multiple parcels; the council authorized a total cap (not a specific bond sale) and will negotiate security reimbursement agreements with developers as projects arise. Lions said the district is intended to induce projects typically above $5–10 million or those with significant job or sales‑tax potential.
Council approved the resolution by motion (Stevens moved; Hickman seconded) and recorded the passage by voice vote. The action follows the public hearing at which consultants described the TIF mechanics and the council discussed timing and market considerations.
