Coast Coliseum Land Buy
The offer for the former Holiday Inn site nearby was made before the Oct. 20 scheduled auction of the property.
Matt McDonnell, executive director of the Coast Coliseum and Convention Center, told the Sun Herald the Coliseum Commission received about $400,000 from BP in an oil-spill settlement.
The commission also expects to receive about the same amount in a refund Mississippi Power was directed to return to customers who were billed for construction of the Kemper County energy plant.
To take the property off the auction block was extremely important to the commission and the Coliseum, McDonnell said.
“It’s very important to the future growth that has to take place in order for the facility to continue to grow and maintain an economic impact for the community,” he said.
McDonnell hopes to close on the sale of the property in December.