City council OKs incentives for developers

By By Terry R. Cassreino / assistant managing editor
June 2, 2004
Meridian's plan to use incentives to boost residential development is back in place after a city council vote Tuesday that followed state legislative approval of the idea last month.
City officials say they hope the move will increase residential construction in Meridian.
The incentives package lets the city reimburse developers up to 25 percent of the cost of water and sewer improvements, if the homes they build have an average sale price of more than $125,000.
The city could reimburse developers up to 30 percent if homes have an average sale price of $125,000 or less.
City council members unanimously approved the incentives package. Their action followed a vote by the Mississippi Legislature in May in favor of a bill that allowed Meridian to offer incentives to developers.
The legislative proposal was needed after the state attorney general's office issued a formal opinion in February that said Meridian city officials did not have legal authority to provide incentives.
State Rep. Greg Snowden, one of three state House members from Meridian who sponsored the legislation, said the incentives have the potential to encourage people to build more homes in town.