Lake Ozark Receives CDBG and Private Investor Funding for Large-Scale Demolition Project

The City of Lake Ozark sheds some light on a large-scale building demolition project which is mostly being funded by a Community Development Block Grant recently announced by the Missouri Department of Economic Development.

Administrator Harrison Fry says there are 23 structures on and around the Bagnell Dam Strip in the crosshairs to be demolished…all of which are owned by Reese Development.

Among the structures: the former Shoreland Motel along with other residential and commercial structures located along Carls Drive, Ballenger Road, Thornsberry Road, Beach Drive and School Road.

The structures, according to Fry, have been deemed to be in an advanced state of blight, lacking structural safety, some containing asbestos and other environmental contaminants, and formally certified by the city as dangerous.

The CDBG award was $300,000 with Reese Development investing the remaining $133,000 to get the demolition done. That demolition is expected to start sometime this year.