U.S. Rep Davis Secures GO Zone Designation for Dallas County

If the U.S. Senate approves, Dallas County could become a part of the Gulf Opportunity Zone Program. U.S. Rep. Artur Davis (D-Ala.) secured the designation for Dallas County just before Congress took off for its Memorial Day break.

"Dallas County should never have been omitted from the original GO Zone designation for Alabama," Davis said. "Securing GO Zone status would boost the county's ability to attract new businesses. At a time when the unemployment rate in the Black Belt is soaring, the Selma area needs these extra resources."

The GO Zone comprises those parishes in Louisiana and counties in Mississippi and Alabama that were declared major disaster areas by President George W. Bush as a result of Hurricanes Katrina and Rita. More >

House Passes GO Zone Extension

A bill that would eliminate the deadline to begin construction for the Gulf Opportunity or GO Zone Act passed the House on Wednesday, U.S. Rep. Gene Taylor said. The Senate and House must now agree on the bill, which could mean an additional $1.1 billion in tax incentives for Coast recovery from Hurricane Katrina.

The bill also would allow grant recipients who deducted their loss after Hurricanes Katrina and Rita to amend previous tax returns so grants will not be considered taxable income. More >

Read The Congressional Testimony Of Jack Norris

The following is the testimony of Jack Norris, executive director of the state of Mississippi as part of the Governor's Office of Recovery and Renewal to the U.S. House of Representatives Committee on Financial Services on May 8th, 2008

Good morning. I'd like to thank the members of the Committee for allowing me to tell you about the tremendous recovery that continues to occur in our great state. Thank you very much Chairwoman and Ranking Member and distinguished members of the committee for giving me the opportunity to speak with you today.

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Get An Amazing Deal on a GO Zone Qualified High Rise Condo - Cash Investor Needed for Built in Equity

I have a unit owner in the Legacy high rise in Biloxi, Mississippi that is loosing his unit to the IRS. This 1,852 square foot unit is going for $475,000 and is GO Zone qualified. How good a deal is this? Well, for starters, this same unit was sold in 2006 for $725,000 and the developer close out units are priced (and selling) for $650,000 right now!

Are you a cash buyer? Can you close within two weeks? Would you like potential built in equity in a GO Zone property? You need to contact me NOW on this one!

ABOUT LEGACY:
Mississippi Gulf Coast's newest luxury high-rise property, Legacy Towers Condominiums, is located right on the Gulfport and Biloxi line. The property is near several casinos including Beau Rivage, Hard Rock, The Palace, Island View, IP Casino, Isle of Capri, Treasure Bay, Boom Town and Grand Casino. Within walking distance to the top rated Great Southern Golf Course and just ten minutes from the Gulfport Regional Airport. The vicinity also offers abundant water sports combined with unparalleled beauty and breathtaking views.