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Developers present MOU for Ozark Mountain Sports Complex expansion; board asks for more time before incentives analysis
Summary
Developers and their advisors presented a memorandum of understanding outlining proposed public incentives for an expansion of the Ozark Mountain Sports Complex, including a training facility, additional fields and a hotel; the board placed the MOU on first reading and asked staff to commission financial and legal analyses before any binding approvals.
Developers and their advisors presented a memorandum of understanding outlining proposed public-private incentives for an expansion of the Ozark Mountain Sports Complex that would add fields, a training facility and a hotel. The board placed the MOU (bill 3699) on its first reading and opened discussion but did not approve any incentive measures; aldermen asked staff to return with economic and legal analyses before any binding action.
Kurt Peterson, advising the developer team, described four financing tools the developers requested the city and project partners evaluate: Chapter 100 sales- and property-tax relief including a 25-year property-tax abatement on the hotel component; a 1% community improvement district (CID) sales-tax to be collected within the project for up to 27 years; a 1% transportation development district (TDD) sales-tax focused on parking and transportation elements for up to 25…
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