Refuge Town Center Development Proposed in Flowood

Jan. 26, 2022

Source: Rankin County News, Charles Bailey

Refuge Town Center Proposed - The Refuge Town Center, a mixed-use development that would strech from Flowood's Medical Parkway to Fox Hall Rd, has been proposed. The development would incorporate office space, residential housing, an assisted living center, restaurants and retail outlets.

FLOWOOD - A 162-acre development incorporating office space retail outlets and restaurants and an assortment of residential options has been proposed in Flowood.

The Refuge Town Center would essentially stretch from Flowood's Medical Parkway to Fox Hall Road, with facilities on either side of The Refuge Golf Course, said Stephen Davidson, manager of the development.

According to a financial packet provided by Gouras & Associates LLC, the project's developer - Old Pearl Farms, LLC - "the project represents a private investment in excess of $125,000, and will create construction jobs with an estimated payroll of approximately $45,000,000."

Both the Rankin County Board of Supervisors and the City of Flowood have approved thier intent to provide partial Tax Increment Financing (TIF) funding to help offset infrastructure costs incurred by the developer, if the Town Center is completed as proposed.

Taxes generated from single-family homes, townhomes, and duplexes would not be used to service the potential TIF bonds.

According to the Gouras & Associates document, "the developer projects that the city's annual real and personal property taes...will increase by $480,281, the county's by $966,297, and the Rankin County School District's by $1,339,504."

Annual sales are projected to reach $23,736,000.

An assisted living faclity is listed among the residential developments proposed for the Town Center.

The area designated as the TIF District is currently described as "raw land" serviced by no utilities and generating very little property tax revenue.

"The use of tax increment financing is an inducement that will result in the development of vacant and underdeveloped prime property in the city and the county," the Gouras document states. 

Current combined tax revenue, which includes Flowood, Rankin County and the Rankin County School District, is listed at $256. That number is projecte to rise to $2,786,671 after the project is completed.