City of Gulfport to use TIF bonds for promenade project

The City of Gulfport has passed a resolution authorizing tax increment financing revenue bonds in an amount of up to $5. 2 million for various infrastructure improvements.

These improvements include what’s being called the “Gulfport Promenade Project”, upgrading the surrounding areas of the promenade.

The TIF bonds will fund roadway enhancements, landscaping, and utilities — hopefully bringing in new businesses that will ultimately benefit locals.

Mayor Billy Hewes said, “We knew this was a development corridor and we knew there was a potential for a lot of business and tax base and opportunities for our residents coming in here, so that’s what drove that decision. This is something that’s been years in the works. In the immediate area, we’re going to be widening that entrance to Dedeaux Road right off of 605, which is going to provide a lot more serviceability for this area. And I think that in itself will drive more development, too.”

This project is still in the early stages of development, and Mayor Hewes tells us it will likely be going on for years.