Osage Beach Mayor Explains TIF

How does a Tax Increment Financing plan work? The city of Osage Beach recently approved the first phase of the future Arrowhead Centre. That equates to 55-million-dollars over the span of construction. Gary Mitchell is putting up 385-million-dollars of his money for the project. We asked Osage Beach Mayor Penny Lyons to explain how the city does not bear any financial responsibility…

The TIF monies will only be handed over to the developer as each phase is approved for construction. There are eight phases planned over the next decade…