Holloway hails new Point Cadet lease

Biloxi Mayor A.J. Holloway says a new Point Cadet agreement passed by the City Council today settles many issues involving the east Biloxi waterfront, and it sets the stage for the growth of the Isle of Capri and the continued presence of the J.L. Scott Marine Education Center and Aquarium.

The City Council’s OK of the lease comes after years of wrangling over complicated leases involving four acres of land on Biloxi’s east end. Segments of the land are home to the Isle of Capri Casino Resort, J.L. Scott Marine Education Center and Aquarium, and Point Cadet Marina.

The Isle of Capri has sought to build a second hotel and parking garage, but plans were stalled while details were ironed out between the city, Secretary of State Eric Clark, the state Institutions of Higher Learning and the Isle of Capri. In fact, the agreement approved by the City Council today still must be OK’d by the boards of the IHL and Isle. Both boards were scheduled to meet this afternoon.

Holloway, meantime, was pleased with the progress.

“This agreement meets three primary goals,” Holloway said. “First, it settles waterfront ownership questions and avoids costly and time-consuming litigation that could have had an uncertain outcome and tied this up for years. Second, it provides for the expansion of the Isle of Capri, which has been and will continue to be an important partner for the city.

“And, finally, it guarantees revenue – revenue from the Isle lease, revenue for J.L. Scott’s continued presence in Biloxi, revenue for a master plan for Point Cadet, and because of the expansion, additional jobs and additional tax revenue for the city, county, state and Biloxi school district.”

Hopefully, the mayor said, the IHL and the Isle boards will OK the agreement “so Point Cadet will have a secure and certain future.”