City combines two downtown historic districts

By By Fredie Carmichael / staff writer
October 20, 2004
All businesses and properties in downtown Meridian will soon be combined into one historic preservation district a move touted by city officials as a way to help spur new development.
Meridian city councilmen voted Tuesday to combine the Union Station Historic Preservation District and the Urban Center Historic Preservation District, both of which were formed in 1979.
Don Farrar, the city's community development director, said the city will now ask the state to certify the new district.
Farrar said the new unified district will benefit downtown property owners who seek tax credits from the state and federal government. The tax credits are available to help fund restoration projects.
Last month, councilmen approved the creation and a board of directors for the Meridian Community Development &Investment Corp. which will apply for up to $10 million of available tax credits through the National Trust for Historic Preservation.
City officials and business leaders said the nonprofit group was needed because other local community development groups do not meet necessary federal guidelines to apply for the credits.
Local officials say investors and bankers may be more willing to loan money or invest in development projects if the federal tax credits are available.
The group is expected to meet today at 5 p.m. at Union Station to outline its strategic redevelopment plan for downtown Meridian. Leland Speed, executive director of the Mississippi Development Authority, will be the featured speaker.
Ward 2 Councilman Mary Perry said she hopes combining the two downtown districts will help restoration projects in all parts of downtown.