The Sunrise Beach TIF Commission hearing on a proposed amendment to the terms of the Sunrise Beach Market Center tax increment financing plan has been rescheduled for 6 p.m. Wednesday, Dec. 11 at Sunrise Beach Fire Protection District Headquarters, 30 Porter Mill Spring Rd. The developers of Sunrise Beach Market Center Supermarket Developers, Inc. are seeking to extend the TIF due to cost overruns in the excavation budget for the site. Under state statute, a TIF district allows a portion of future taxes generated by a designated development to pay for certain project costs. In this case, the TIF is funding site development and professional fees. The project was originally estimated at $15.64 million with the TIF to be concluded in 2030 – a period of 17 years. The proposed extension would lengthen the TIF to 18-20 years.
News/Talk KRMS 1150 AM, 97.5 FM & 103.3 FM
Talk Radio at the Lake of the Ozarks in Missouri
Leave a Reply
You must be logged in to post a comment.