Mon. Jun 17th, 2024


Negotiations Continue For Lakeport Oasis Purchase Of Old Time Share Units

Negotiations continue into what many consider to be one of the final issues in the way of plans to go full-steam ahead with a $350-million development in Osage Beach.

Speaking last week during a public hearing on the Lakeport project, local developer Jeff Tegethoff advised the board of aldermen that his company has accepted a formal counter-offer for the purchases of deeded timeshares currently on the development site.

“We accepted their offer, their counter offer in writing. And now they’ve asked us that they have until May 31. We had asked them to give us a formal response to our acceptance of their counteroffer before this meeting. They quickly came back and said, can you give us till the end of May?”

Tegethoff also says that progress in the negotiations has been slow.

“I can’t count how many of the owners have reached out to me unsolicited. And we continue to be positive with this.”

As it stands, Tegethoff’s company is under contract to individually purchase eight of the 1100 timeshare deeds.

In the meantime, the board of aldermen has given first round approval for the project and it’s hoped that the developer can announce finalized negotiations for the rest of the timeshare deeds before the next meeting when a second-reading is expected.

Reporter Mike Anthony