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Board approves first readings of incentives package for Butterfly Palace expansion
Summary
The Branson Board of Aldermen approved first readings and related actions on a package of incentives — including a community improvement district, sales-tax reimbursement and a Chapter 100 plan — to support an $11.47 million expansion of the Butterfly Palace.
The Branson Board of Aldermen on first reading approved a multi-part incentives package to support a proposed $11,469,059 expansion of the Butterfly Palace, including a Community Improvement District (CID), a sales-tax reimbursement agreement and a Chapter 100 industrial-development plan.
City officials said the package would rely on performance-based reimbursements and tax exemptions rather than direct city appropriations. Staff estimated total public participation of about $2,111,338 — roughly 18.41% of the project cost — and described the city’s anticipated reimbursement cap as 12.46% of project costs.
The package combines three mechanisms. City-contracted advisers said the proposed CID would levy a 1% sales-and-use tax just on purchases at the Butterfly Palace parcel; the Board would certify CID collections and then…
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