For several years, the City of Flowood, Miss., sought to attract a hotel and conference center. Through an intricate public-private partnership (“p3”) structure, which involved structuring a $13 million-plus tourism sales tax rebate incentive through the Mississippi Development Authority as well as a sophisticated revenue sharing mechanism that will allow the City to enjoy some of the profits of the project, The Refuge Sheraton Hotel & Conference Center was born.
Butler Snow served as bond counsel to the Mississippi Business Finance Corporation (“MBFC”) in connection with the issuance of its $26,896,000 MBFC Taxable Revenue Bonds Series 2019A and $3,000,000 MBFC Taxable Revenue Series 2019B to finance a portion of the construction of The Refuge Sheraton Hotel & Conference Center. The development features 220 rooms and more than 54,000 square feet of conference center space. Luxury amenities of the development include a full-service restaurant called Rebecca’s, a roof top bar and lounge called Missy Sippy’s, a resort style pool with a lazy river and pool bar & restaurant called Joe Joe’s, a 19th hole restaurant adjacent to the golf course called Sandi Trap, a coffee and breakfast house called Twins, a medical spa, cooking school, golf pro shop, kids zone and arcade and an event lawn adjacent to a new 15-acre lake with walking trails. The grand opening and ribbon cutting for the Hotel & Conference Center is May 28, 2021 at 10 am. More information about the development can be found here.
Butler Snow also served as bond counsel to the City of Flowood, Miss., in the issuance of its $20,000,000 Taxable General Obligation Urban Renewal Bonds, Series 2017 pursuant to local and private legislation approved by the Mississippi Legislature in 2014 and 2016 and the Mississippi Urban Renewal Act. The proceeds were used to renovate and enhance The Refuge Golf Course, make site improvements and acquire the conference center. On April 19, 2021, the golf course was the first phase of the multi-million-dollar development to open. Located next to the hotel, the golf course is municipally owned and underwent a four-year renovation. The golf course is affiliated with the hotel and available to guests as part of their hotel stay.