The Meridian City Council is set to consider a resolution Tuesday issuing up to $1.9 million in Tax Increment Financing bonds to assist with further development of the Meridian Crossroads shopping center.

The Crossroads Project Phase II has been in the works for several years, and Councilman George Thomas on Monday said the council has been told the developer is ready to move forward. Thomas said it is up to the developer to release details of the project, but it was his understanding the development would bring additional retail space and businesses to the area.

TIF bonds are an economic development tool municipalities can use to assist or incentivize private development. The bonds are used to build supporting public infrastructure in developments such as roads, sidewalks and sewer systems, which will normally be turned over to the city once construction is complete. The bonds are then paid back using a portion of the new tax dollars generated by the development.

The City Council in 2015 approved a TIF plan for the project with up to $2.8 million in bonds to be repaid with sales tax over 15 years. Early versions of the project called for a $22 million investment including a Hobby Lobby, Dick’s Sporting Goods and Kirkland’s in the 12.95-acre site.

The project was originally being developed by RCG Ventures, which is based in Atlanta, Georgia, but later switched to Collett Development, which is based in North Carolina. At a ribbon cutting for the Hobby Lobby, which opened in 2019, Collett’s Wesley Walls told The Meridian Star the company hoped to add another anchor store and three to five tenants, bringing another 80,000 to 85,000 square feet of retail space to the area.

Actions to both employ professionals to assist with the bond process and the bond resolution are included on the consent agenda for the council’s Tuesday meeting, which is set for 5 p.m. in the auditorium on the third floor of city hall. Items on the consent agenda are approved all at once and are not open for discussion, however council members can vote to remove an item from the consent agenda if they feel more discussion is needed.

Community Development Director Craig Hitt said the project is set to move forward quickly if approved by the council. Initial dirt work at the site, he said, could begin as early as next month.

“It’s going to be very fast,” he said.

Also on Tuesday the City Council is expected to:

– Confirm Debra Young to the Meridian Public School District Board of Trustees

– Accept a maintenance contract with Terry Services for HVAC at city hall

– Approve six-month source of supply bids for asphalt and concrete

– Authorize the State Games of Mississippi to use city hall lawn and auditorium for its annual opening ceremonies

– Recognize science project winners from Magnolia Middle School