by Hunter Dawkins, Publisher/Owner – firstname.lastname@example.org or email@example.com
After a request was made to put the item involving the Tri-Party Agreement to go back on the agenda following the November 21 meeting by Long Beach Mayor George Bass, every board member was available Tuesday, December 5, 2023 at Long Beach City Hall and a measure changed. Voting 4-3 in favor, the city of Long Beach adopted a Tri-Party Agreement with Revival Property LB112 and the South Mississippi Planning & Development District (SMPDD).
In the adopted agreement, the city has authority to provide funding to SMPDD for the private developer (Revival Property LB112) what it feels appropriate and place reasonable conditions on the funds provided to SMPDD by the city. The SMPDD is a 501(c)(3) which would engage in the Commercial Redevelopment Incentive Grant program, which allows private developers the incentive to apply for a grant.
Hotel Whiskey (the luxury hotel establishment of Revival Property LB112) would be the main participant in the grant program along with a retail chain establishment. Revival Property LB112 agreed to purchase the Redevelopment Project and complete a grant application with SMPDD which would include estimated costs and projected tax increases.
Additionally, Revival Property LB112 acknowledges that within 90 days of the grant of a certificate of occupancy for the Redevelopment Project that documentation of project costs will be provided to the city and SMPDD to their satisfaction.
Should the Hotel Whiskey or the Revival Property LB112 terminate its lease, the Tri-Party Agreement will automatically terminate and the responsibilities of Long Beach and the SMPDD.
On a roll call vote at the meeting, Alderman-at-Large Donald Frazer, Ward 1 Alderman Patrick Bennett, Ward 3 Alderwoman Angie Johnson, and Ward 4 Alderman Timothy McCaffrey, Jr. all voted for the agreement while Ward 2 Alderman Bernie Parker, Ward 5 Alderman Mike Brown, and Ward 6 Alderman Pete McGoey voted in dissent.
Once the motion was counted, Long Beach Mayor Bass declared the motion was approved. In the November 21 meeting, Bass broke the tie 3-3 vote with a Nay, but immediately requested the issue be submitted again due to all board members not being present.