SOUTHAVEN, Miss. (AP) — Southaven officials have extended the time frame of the $15 million tax increment financing plan for the proposed outlet mall.
The Commercial Appeal reports (http://bit.ly/WbnqyE ) Mayor Greg Davis made clear at Tuesday's meeting that the amount of funding was not changing, just the time period for the plan was being extended from 15 years to 20 years.
Tax increment financing is a plan under which bonds will be issued to pay for the infrastructure, which includes water, sewer and road improvements for the outlet mall project.
The mall is a $50-$60 million project called the Outlet Shops of the Mid-South.
Information from: The Commercial Appeal, http://www.commercialappeal.com