Convention center set for Township
Wednesday, April 19, 2017 6:00 PM
RIDGELAND — New development at the Township, which would bring a conference and convention center along with hotels, was approved as part of a sales tax rebate incentive for economic development through the state.
The city on Tuesday night voted to approve rebating 80 percent of sales tax returns generated from these particular projects for 15 years, capped at 30 percent of approved development expenditures, pending Mississippi Development Authority approval.
The Ridgeland Mayor and Board of Aldermen voted 5-1 to pass a resolution granting an 80-percent sales tax rebate for a period of 15 years or “when the aggregate amount of 30 percent of the approved project costs by the Mississippi Development Authority incurred by the developer for the project has been paid or whichever shall occur first.”
Ward 1 Alderman Ken Heard was the lone “nay” vote, with Ward 2 Alderman Chuck Gautier recusing himself because he works with Kerioth Corporation, the developer of The Township at Colony Park located on the Highland Colony Parkway.
Clint Herring, CEO and President of Kerioth, presented the resolution at Monday’s work session.
The project would be “hospitality and tourism driven” and will include two hotels, a conference and convention center suited for both weddings and business fair and corresponding guest amenities.
Herring said that the hotels would be Marriot-brand buildings, one of which would be their new higher end Autograph line of hotels.
“These will both be high-end Marriots and I don’t think there will be another product like this in the state for time,” Herring said.
Kerioth will still have to seek approval from the Mississippi Development Authority and have its application approved for the tourism incentive.
The rebate was granted under the Mississippi Tourism Project Incentive Program Act set forth in the Mississippi Code of 1972. The resolution also cites a line from the city’s master plan that “insists on high-quality residential and commercial development.”
Herring said that the hotels would include a “viable room count” of 100 rooms plus.
The resolution did not mention the cost of the projects or when they would begin.