FOR IMMEDIATE RELEASE
August 31, 2006

GOVERNOR HALEY BARBOUR ANNOUNCES PLANS FOR NEW HOUSING ON COAST

(Jackson, Mississippi) – Governor Haley Barbour today announced that over $10 million of housing tax credits awarded by the Mississippi Home Corporation will facilitate construction of 1,006 housing units in Hancock, Harrison, Jackson and Stone counties.

“The housing units that will be built under the strength of these tax credits will provide a level of stability many families have not enjoyed since August 29, 2005, the day Hurricane Katrina destroyed the Mississippi Coast,” Governor Barbour said. “I am pleased the Mississippi Home Corporation has recognized the critical need for housing on the Coast by allocating nearly 40 percent of the state’s total units to projects in Hancock, Harrison, Jackson and Stone counties.”

About 95 percent of the 6,000 rental units obliterated by Hurricane Katrina were located in Mississippi’s lower three counties. The $10,057,366 in tax credits will stimulate approximately $104 million in housing development and address the critical housing shortage in the Gulf Coast region. The coastal units funded using today’s allocation, coupled with the 228 coastal units associated with tax credits awarded in January 2006, will replace 20 percent of the coastal county units destroyed by the hurricane.

Tax credits were awarded for the following developments:

D’Iberville
Park at Leymoyne Apartments, 160 units

Gulfport Sawgrass Park Apartments, 204 units Summerville Townhomes, 150 units Angela Apartments, 60 units

Roxbury Cove, 30 units

Jackson County
Lexington Park Apartments, 120 units

Ocean Springs
The Colonnades, 56 units

Pass Christian
Camille Village Apartments, 86 units

Waveland
Waveview Place, 100 units

Wiggins
Wiggins Estates, LLC, 40 units

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