Background on Installation
The Naval Air Station (NAS) Pascagoula consists of three parcels. The main Naval Base on Singing River Island (528 acres) reverted to the State of Mississippi. The separate Sandhill Family Housing Site (75 acres) was transferred to the Air Force to support Kessler Air Force Base in Biloxi. Lakeside Manor (33 acres), which housed the Navy pre-commissioning crews for the Northrop Grumman shipyard, was successfully removed from BRAC in June 2011 (the Navy will retain it to continue berthing of new ship pre-commissioning crews .)
Property Reuse - Disposal
The reuse effort for Singing River Island and regional recovery efforts were supported by State of Mississippi-enacted economic tax incentive programs for the purpose of accelerating the recovery efforts from Hurricane Katrina. Tax incentive programs were in effect throughout the state . The Federal government also funded incentives to encourage new investment and development in the areas that were damaged by Hurricanes Katrina, Wilma, and Rita in 2005 . The incentives included : increased rehabilitation tax credit for commercial buildings ; additional bonding authority; enhanced Section 179 expanded work opportunity tax credits; increased new markets tax credits; and increased Hope scholarship and lifetime learning credits. Additional incentives included allowing municipalities to restructure outstanding debt to reduce costs andauthorizing Gulf tax credit debt service bonds and Gulf Coast recovery bonds. Furthermore, an extension through December 2010 was granted for Hancock, Harrison, Jackson, Pearl River, and Stone counties, providing bonus depreciation within the region. This incentive allowed businesses and some residential owners to claim an additional first-year depreciation deduction equal to 50 percent of the cost of new property investments made in the region.
For more information about Local Redevelopment Authority (LRA ) actions surrounding NAS Pascagoula, click here.