RIDGELAND — Another luxury automotive dealership is seeking tax increment financing (TIF) for a proposed relocation from Jackson Sunnybrook Road.

The Ritchie Group, with the Audi, Range Rover and Volkswagen brands, currently on I-55 in Jackson, is eyeing an I-55 North location next to Patty Peck Honda.

City officials unanimously approved a resolution 6-0 with Ward 3 Alderman Kevin holder absent to advertise for a public hearing regarding a TIF plan worth up to $2.3 million for a proposed car dealership referred to as the Sunnybrook Road Automotive Project.

The TIF financing is a diversion of taxes collected that go to pay for infrastructure associated with the project.

The public hearing is set for the next regularly scheduled meeting at 6 p.m. on Nov. 21 in the board room at City Hall.

“I think this is a great opportunity for us,” Mayor Gene McGee said during Monday’s work session.

The Ritchie Group expects the project to be an investment of over $20 million from the group.

Chris Gouras put together a TIF plan and told city officials on Monday that developers hope to break ground late in the first quarter of 2018.

He added that the new dealership will be made up of two adjacent dealerships, each about 20,000 square feet and about 55 jobs per dealership and annual sales estimated at $55 million.

Estimated increases in taxes come at $33,000 for the county, $20,000 for the city and $55,000 for the Madison County School District, he said.

Joey Deason, new executive director for the Madison County Economic Development Authority, was present Monday and said the board has “difficult decisions before them” based on a variety of factors but that based on the tax numbers alone it “sounded like a nice chunk of change.”

Mercedes-Benz of Jackson was recently approved for TIF financing not to exceed $3.3 million for a location at the corner of Steed and Sunnybrook road. The TIF was passed 4-3 in July of 2016 with Ward 1 Alderman Ken Heard, Ward 3 Alderman Kevin Holder and Alderman-at-Large D.I. Smith voting no.

The 70,000-square foot business opens Nov. 20.