With the most recent Arrowhead Centre Osage Beach TIF project barely off the ground, another is in the wings.
The board of aldermen last week approved a resolution advancing a TIF application for Osage Beach Commons on to the city's TIF Commission, which will review the application, hold a public hearing and then make a recommendation to the board.
The hearing will be held at 6 p.m. Thursday, May 11, at the City Hall. The hearing is open for public comment.
The long-rumored development of 13.7 acres on the east side of Osage Beach Parkway near Osage Premium Outlets through the Tax Increment Financing process is now in the TIF tunnel.
The $30.4 million project would be located where Golden Door Motel is currently operating, and where the now-vacant Jake's Steak and Fish is located. The area currently is zoned General Commercial District, which suits the proposed development.
The area includes approximately 10 acres of vacant or unimproved land that includes two abandoned, single family homes.
While no specific retail businesses have been announced, the TIF application calls for a modern shopping center comprised of four buildings of about 131,000 square feet, one out-lot and 672 parking spaces. The exact types of uses, building locations and sizes are yet to be determined, although rumors of a hobby store and one or more restaurants persist.
The redevelopment project is estimated to begin construction in the third quarter of 2017 and completed by the spring of 2019.Lake News Online..3/23/2017