- Associated Press - Tuesday, April 22, 2014

VICKSBURG, Miss. (AP) - The city of Vicksburg has agreed to allow the new owners of the former Grand Station Hotel to pay more than $500,000 in back property taxes owed on the property since 2011.

The agreement was approved Monday by the Board of Mayor and Aldermen.

The Vicksburg Post reports (http://bit.ly/1icsIJ7 ) no date was announced on when the taxes would be paid.

City Attorney Nancy Thomas said Vicksburg Hotel LLC, which bought the hotel, will also pay overdue utility bills by June 15.

The past due property tax totals an estimated $529,146, which does not include penalties and interest.

According to bankruptcy proceedings, Great Southern Investment Group Inc., which owned the Grand Station Hotel, owed $202,649 in back property taxes for 2011 and $191,996 for 2012. County records show the 2013 taxes totaled $134,500, Thomas said.

Thomas said the new owners will also pay back taxes on the two parking garages that were deeded back to the city this month by Great Southern under an agreement signed in January.

Financial problems forced the owners of the Grand Station Casino to close the business in March 2012, putting 230 people out of work. Delta Investments filed for reorganization under Chapter 11 to head off foreclosure. The bankruptcy status was later changed to Chapter 7 and the casino’s barge was sold for scrap.

Biloxi-based Vicksburg Hotel LLC bought the hotel on July 28 and has been refurbishing it. The hotel is expected to open May 8, Thomas said.

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Information from: The Vicksburg Post, http://www.vicksburgpost.com

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