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Delays Hit Apartment Complex In Osage Beach But Work Expected To Get Underway Again Soon

All News RSS Feed Business Top Stories Thursday, March 14th, 2024

Construction could soon begin again on a new apartment complex in Osage Beach which recently saw work crews walk off the site due to delinquent payments.

Speaking earlier this week on KRMS Radio and TV, Mayor Michael Harmison explained that the unexpected delay for the project has, since, been taken care of clearing the way for work to begin again.

“Tegethoff development group, who’s putting that project together, they have had a stall in equity-to-cash in the bank, that will pick it up in a certain period of time. They’re working through that, and he (Mr. Tegethoff) would even tell you that (on the line) it was “unexpected.” Payments have been made and they are looking at restarting all of the projects here soon.”

Harmison also says incentives, such as what was described as a tax-abatement agreement between the city and Tegethoff, are to be paid when the project is completed and everybody involved is paid.

Tegethoff had confirmed the details made public by Harmison in a report by Lake Expo, including that the delay had nothing to do with Thomas Construction.

All News RSS Feed Business Top Stories Thursday, March 14th, 2024

Reporter Mike Anthony