Although efforts to create of an official downtown district for the City of Petal have yet to come to fruition, the Petal Board of Aldermen recently approved a new initiative designed to provide incentive for new businesses to come to the city with the designation of an official Central Business District.
The new district, which was spearheaded by Ward 3 Alderman Blake Nobles, was approved during the December 6 board meeting, where aldermen said the district will encourage the economic revitalization of the area through the granting of ad valorem tax exemptions for the promotion of business and commerce. The area is broken down into two sectors: Petal Central Business District North, which runs east of U.S. 11 toward Old Richton Road, and the Petal Central Business District South, which runs along South Main Street at West 10th Avenue and goes toward the Leaf River.
“We’ve finally got to the point where we’re passing our Central Business District ordinance, and I’m real excited for it,” Nobles said. “Basically, it’s going to allow forgiveness for new businesses for either three, five or seven years, depending on how much money they spend – or for current businesses, based on if they spend $5,000 or more on renovations.”
The project, which was begun last year, is the result of a joint partnership between the Petal Board of Aldermen, the Forrest County Board of Supervisors, the Area Development Partnership and the Petal Area Chamber of Commerce.
The north district is comprised of several parcels off of West Central Avenue, East Central Avenue, South George Street, North Main Street and South Main Street. The southern district consists mostly of parcels off of Carterville Road, Dawson Cutoff and South Main Street.
According to the new ordinance, the goals of the district are to “facilitate the reconstruction and redevelopment of those parts of the existing structures within the commercial and business community which are in need of rejuvenation, maintenance, and repair; to facilitate the construction and development of new structures within the commercial and business community; to help offset current economic disincentives to the reconstruction, redevelopment, and new construction and development of those areas; and to attract quality commercial business enterprises to those areas.”
Kaitlyn Smith, who serves as community development coordinator for the Area Development Partnership, said her organization also is excited about the partnership.
“I love working with you guys,” she told the board. “My family lives in Petal, so I’m not a stranger.
“I lived here at one point in my life … and I love this place, and I’m excited to see it going forward with this new project.”
Some of the provisions are the ordinance are as follows:
- Exemption from ad valorem taxes for a period of seven years may be granted for a project with a total value of not less than $5,000 for reconstruction and/or renovation of an existing structure;
- Exemption from ad valorem taxes for a period of seven years may be granted for a project with a total value of not less than $500,000 for development and/or construction of a new structure;
- Exemption from ad valorem taxes for a period of five years may be granted for a project with a total value of not less than $250,000 for development and/or construction of a new structure; and
- Exemption from ad valorem taxes for a period of three years may be granted for a project with a total value of not less than $150,000 for development and/or construction of a new structure.
“Forrest County is incredibly excited for our growing partnership with the City of Petal,” said Forrest County District 3 Supervisor Burkett Ross, whose district is comprised of most of Petal. “We want to do everything that we can to help the City of Petal grow and prosper, and this central business district does just that.
“This project opens the door for Petal to be a lucrative spot for new investments and helps us continue this good relationship with the City of Petal. We cannot wait to see what comes of this.”
If all goes according to plan, the Petal Central Business District will be officially established at the beginning of next year, with the hope that the application will go live by the end of January 2023.
“The Petal Area Chamber of Commerce is excited about the creation of a defined central business district in Petal because of the potential to attract new businesses and established businesses to downtown,” said Valerie Wilson, executive director of the chamber. “High rental rates and cost of property on the Evelyn Gandy Parkway prevent many small businesses from being successful due to high overhead expense.
“These same businesses may be highly successful in our CBD. By offering incentives that encourage businesses and individuals to invest in downtown properties, we are providing a stimulus for downtown investment, resulting in revitalization and beautification. Our goal is to create a downtown experience in which people enjoy shopping, visiting and living in the CBD.”
