Developers to fund economic analysis for proposed Ozark Mountain Sports Complex; funding agreement advanced

A funding agreement related to a proposed Ozark Mountain Sports Complex (bill 3656) was placed on first reading. The agreement would require the developer to pay the city’s costs for outside consultants retained to evaluate any future incentive requests.

Sarah Grimeth, counsel with Gilmore & Bell serving as economic development counsel to the city, said the funding agreement allows the city to hire and be reimbursed for consultants who perform economic analysis and related due diligence. “This is not an approval of incentives,” she emphasized; instead the contract sets who will pay consultant costs during the vetting process.

Nut graf: The funding agreement is a common early step in incentive negotiations — it lets the city obtain technical analyses (financial feasibility, ‘but-for’ and tax impact work) and have the proposed developer reimburse those costs whether or not incentives are ultimately approved.

Developer representatives told the board they are committed to advancing the analysis. “We’re committed financially, as she, Sarah drew out that that we're paying for everything that goes involved in the analysis of this,” said a developer representative, Dustin Lewis.

Kristen Haseltine of Show Me Christian County Economic Development said the local development organization supports proceeding with the funding agreement so the analysis can quantify gaps and identify what incentives might be necessary.

Board action: Aldermen placed bill 3656 on first reading by title and description only. The developer stated its financial commitment to fund the consultant work; the board will consider incentive approvals, if any, later after technical review.

Ending: Staff and the developer said the funding agreement only covers consultant expenses for evaluation of incentive requests; any incentive decisions will return to the board for separate action.