MS SB2960

Authorizes the City of Gulfport and the Gulfport Redevelopment Commission to lease specified properties for economic and commercial development purposes for terms up to 60 years to one or more developers.

Allows governing authorities to lease properties with consideration and terms determined adequate and prescribed by the authorities, including land, appurtenances, and additional parcels necessary to improve development potential.

Requires governing authorities to adopt a resolution determining that the proposed lease use will promote civic, educational, cultural, economic or industrial welfare of the city and that the developer is suitable and acceptable.

Authorizes governing authorities to correct legal description errors and enter into related agreements including loan facilities and extensions of credit for up to 60 years.

Identifies seven specific parcels of property in Gulfport subject to leasing authority, including waterfront areas, downtown lots, and redevelopment parcels.