Petal leaders approve multi-million dollar plan for luxury apartment complex

Local News

Petal leaders are going ahead with plans to build a luxury apartment complex in the city.

Some people are concerned about the project’s finances.

Leaders voted unanimously to approve a multi-million dollar tax increment finance plan for the complex.

Forrest County Supervisor Chris Brown voted against it.

He’s concerned about the length of the financing which is 20 years.

The mayor of Petal is fully on board.

Mayor Hal Maxi says, “The taxes that are generated through the project itself, once it’s complete, property taxes will then go to help pay that back for the developer. So these are tax monies that have not been going to the City of Petal thus far, so we’re not really losing anything.”

There is no timetable on when construction will begin.

The project is expected to cost around 15 million dollars.

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