Lake's Economy Ready to Boom
About $580 million of development will sit on 350 acres between Highway 54 and Business 54. The plan calls for Horseshoe Bend Parkway to connect the two highways and add 2,000 residential and commercial buildings.
"The interchange, the road, and then all the property that can be developed, it's just like a blossom," said Mayor Paul Sale. "And we see nothing but good things to come of it."
After the town rezones the land, a development company will sell bonds for it. The developer said $121 million in sales taxes from the TIF will go to Lake Ozark.
"The economy right now is we're status quo. We're not growing real fast, and we are making ends meet," added Sale. "But, this would be an economic boom."
Local businessman and developer Merlyn Vandervort said it's easy to see why the Lake of the Ozarks is expanding.
"It's a beautiful place to live, it really is. If you look hard enough, you'll find some people that wish the lake would stay the way it was 10 years ago, and stay the status quo, and not grow at all. But I don't think that's realistic at all. This is a fantastic location. And it's growing, and it's going to continue to grow."
Bill Kuhlow, president of Horshoe Bend Development, said individuals or companies that want to build on the land must buy uninsured bonds, which can be risky. But Kuhlow said he's confident about the report by outside consultants.