Horseshoe Bend Development Group’s master planned mixed-use project in Lake Ozark encompasses 470 acres of the approximate 1500 acres the City’s Interior District including the construction of the new 2 mile extension of Horseshoe Bend Parkway. The new four-lane HB Parkway divided roadway from Bagnell Dam Boulevard to US Highway 54 will be completed by December 31, 2008.
The immediate impact of the HBDG project is two-fold. First, it will provide the new infrastructure and transportation systems for the Interior District of the community. Second, it will provide the community with a 470 acre master planned mixed-use development consisting of over one million square feet of retail and commercial space, as well as a projected 2220 housing units.
All said, the HBDG development represents an approximately $582 million infusion of infrastructure and building development into the local economy. As proposed, the 2 mile $17 million Horseshoe Bend Parkway is to be privately financed and backed by a pledge from the Horseshoe Bend Transition Development District’s Sales Tax. An additional $101 million of infrastructure development will be funded by Tax Increment Financing and $460 million of new construction will be funded from additional private sources.
The HBDG project will create a projected 2,780 permanent jobs with a combined projected annual payroll of $42,700,800, and a projected 3,262 man years worth of construction jobs representing a construction payroll of $99,503,571.
The total projected project revenues for all taxing districts during the first 23 years is $499,692,481 compared to $952,808 without the project, which is a projected increase in revenues of $498,739,673. Specifically, each taxing jurisdiction is projected to realize an increase in revenue as follows:
City of Lake Ozark $79,186,888
School District $15,469,280
Miller County $31,422,722
Library $497,566
Nursing Home $681,906
Sheltered Workshop $329,288
Senior $191,224
Mental Health $573,673
Kaiser Special Road District $713,649
Ambulance District $602,739
Fire District $2,580,380
Transportation Development District $54,310,059
State of Missouri $312,943,397
This project has broad reaching support. The following groups or organizations support this project: Lake Ozark Transportation Council (LOTC), City of Lake Ozark, Village of Four Seasons, Four Seasons Group, Inc., Bagnell Dam Board of Realtors, Central Bank, Commissioners of Miller County, Commissioners of Camden County, Bagnell Dam Strip Association, Lake of the Ozarks Community Bridge Corporation, Missouri State Chamber of Commerce & Industry, Ameren UE, Lake Area Chamber of Commerce and others.
*Article copied from a Horseshoe Bend Development Group LLC publication |