By Emily Le Coz/NEMS Daily Journal
TUPELO – The City Council will vote on the Tupelo Neighborhood Reinvestment Plan on July 5.
Council members on Monday said it’s time to end discussions on the $15.7 million proposal, which they have debated since its unveiling in March.
“I think it’s time to move forward with it,” said Ward 3 Councilman Jim Newell during a council work session at City Hall. “Either we support it or we don’t.”
The council will hold one final work session on the four-part plan. It’s scheduled for 3:30 p.m. Thursday.
The plan aims to make the city a more family-friendly destination to drive up home ownership, home renovations and property values. If successful, it would result in $45 million in private investment to the city and stabilize its middle-class population.
Census data released earlier this year showed Tupelo’s population growth slowing while those of nearby suburbs exploded.
Among the plan’s components are a low-interest loan program to help homebuyers with down payments; stronger code enforcement funded by higher landlord permit fees; a matching grant for homeowners improving their properties; and a program to pay college tuition for graduating high school students.
No tax increase is planned to finance the proposal.
Contact Emily Le Coz at (662) 678-1588 or firstname.lastname@example.org.