Video: Columbus Hotel Project Cleared to Receive TIF

[syndicaster id=’5728768′]

COLUMBUS, Miss. (WCBI) -A retail project more than seven years in the making will finally get the incentives it was promised.

Columbus has agreed to issue two point five million in bonds to repay the Peachtree group for infrastructure improvements made for the hotel and restaurant complex built on 18th Avenue North at Highway 82.

The property taxes from the new development, plus 50 percent of sale tax revenues will be used to pay off the bonds.

The city and county originally committed almost four million to the project, but the amount was scaled back since the project is now virtually finished.