An urban renewal plan was approved by Vicksburg officials Friday, initiating an action delayed while a petition opposing a $16.9 million bond issue was pending.

The goal of the plan is to encourage privately funded redevelopment of an area extending south from downtown from the east side of Washington Street to the Mississippi River.

About $600,000 of the bond issue money is earmarked for what’s called the Oak Street Corridor, all for sidewalk, street, lighting and draining work.

Mayor Laurence Leyens said the remaining impetus will come from strict code enforcement against owners of 540 homes and businesses in the defined area, which range from antebellum mansions and tour homes to homes that are rotting on their foundations.

Urban-renewal projects are defined under state law and allow city governments to acquire and resell properties in areas they designate as slum or blight. Leyens said only two properties have been identified for that process – a car wash at Washington and Belmont streets and a business at 3200 Oak St.

The plans were prepared by Jimmy G. Gouras Urban Planning Consultants Inc. of Vicksburg.

The bond issue the petition opposed is to borrow $16.9 million. That money is to be divided three ways: