Sales tax rebate granted for shopping mall expansion

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Source:   —  April 16, 2016, at 7:22 PM

Without the extension the $96.8 million expansion of the Renaissance at Colony Park would've lost nearly $30 million in rebates, challenging its feasibility, according to the MS Business Journal (http://bit.

Sales tax rebate granted for shopping mall expansion

A project to widen a shopping mall in Ridgeland has been granted a four-year extension of a sales tax rebate by the MS Development Authority.

Without the extension the $96.8 million expansion of the Renaissance at Colony Park would've lost nearly $30 million in rebates, challenging its feasibility, according to the MS Business Journal (http://bit. ly/1SlwC5b ).

The Legislature voted to finish the rebate program in two thousand-fourteenth, but Renaissance at Colony Park LLC. got its application approved before the deadline.

Still, the rebate has been controversial.

Efforts to obstruct the extensions have failed so distant in the current session of the Legislature.

Nine homeowners meanwhile have sued the city to obstruct the development. Homeowners contend the expansion with Costco would create traffic problems and devalue residential property.

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