Financing for part of a $25 million retail and hotel development planned for South Frontage and Bazinsky roads received conditional approval Monday from the Warren County Board of Supervisors.

The vote to OK Tax Increment Financing for Cypress Centre Marketplace came at the close of a 15-minute public hearing at which no one spoke in opposition.

If the project moves forward, the county will pledge 50 percent of projected real property tax increases on the land to repay $1.1 million in infrastructure bonds. The city’s participation would entail a 100 percent pledge of its real property tax increases.

The county would forego the income from the increased property value and it would be used to repay the bonds until paid off. TIF has been used for numerous local developments, including The Home Depot in 2003. The county did not participate in that project, however.

It would also require an interlocal agreement between the county and the city making the city the main collector of the bonds.

Development of the site would come in two phases, the first being a 3.2-acre tract for hotel and restaurant space. The second would develop 20.8 acres for an 180,000-square-foot shopping center plus three parcels that could be developed later.

Developers of the project still need city officials to sign off on the financing plans to make it a reality, thus making Monday’s approval by the board conditional.

Jimmy Hamilton, lead developer of the project, was not at the hearing. No date has been set to request a public hearing before the City Board of Mayor and Aldermen, Hamilton said later.

Jimmy Gouras of Jimmy G. Gouras Urban Planning Consultants Inc. told the board at the hearing that financing the first phase would entail a $343,000 bond issue being passed.

&#8220I fully expect the city to go forward with it,” Gouras told supervisors, adding his firm received a letter from the city stating as such.

Reached by phone later, both Mayor Laurence Leyens and South Ward Alderman Sid Beaumann said &#8220concept meetings” had been held with the developers but the group had to firm up their numbers for the plan to pass muster with the city board.

&#8220It’s not a slam dunk or anything. Their numbers have to work,” Beaumann said.

North Ward Alderman Michael Mayfield was attending a conference in Natchez and could not be immediately reached.

In other business, the board: