242 Land Divided For Sale - City of Lake Ozark

City of Lake Ozark Awarded $300,000 Community Development Block Grant for Demolition Project: Lake Ozark, MO — The City of Lake Ozark has been named the recipient of a $300,000 Community Development Block Grant (CDBG) from the Missouri Department of Economic Development to support a $433,030 building demolition project focused on improving safety and redevelopment opportunities in the Bagnell Dam Strip area. The remaining $133,030 required to complete the project will be provided to the City by the property owner, Reese Development. As a result of the grant award, 23 structures on and around the historic Bagnell Dam Strip will be demolished. All properties included in the project are owned by Reese Development. Among the structures slated for demolition is the former Shoreland Motel located on the Bagnell Dam Strip. Additional buildings included in the project consist of a series of residential and commercial structures located along Carls Drive, Ballenger Road, Thornsberry Road, Beach Drive, and School Road. These structures were determined eligible for CDBG funding due to their advanced state of blight and lack of structural safety, in accordance with adopted building codes. Several of the buildings contain asbestos and other environmental contaminants, and all have been formally certified by the City as dangerous buildings. Buildings were prioritized based on safety concerns, structural deterioration, and overall risk to the public. To qualify for the grant, each structure was required to have been vacant for an extended period of time. Demolition work associated with this project is expected to commence in 2026. “We are proud to partner with the City of Lake Ozark and the Missouri Department of Economic Development to continue the momentum of the last two years on the historic Bagnell Dam Strip,” stated Peter Colovos, Chief Operating Officer of Reese Development. “Brick by brick and block by block we are committed to redeveloping this jewel of the Midwest,” he added. Reese Development has invested more than $600,000 over the last two years in cleaning up the Strip and demolishing dilapidated structures. City Administrator Harrison Fry expressed appreciation for the state’s support:“We are grateful to the State of Missouri for recognizing the opportunity to breathe new life into the Bagnell Dam Strip corridor. This project begins by removing long-standing, dilapidated structures so that safe, meaningful redevelopment can move forward. I would also like to thank Reese Development for their cooperation and commitment to property revitalization, as well as grant writer Tonya Raines for preparing a successful application that made this project possible.” For more information, please contact the City of Lake Ozark.

Posted on September 28, 2021 by harrison

242 Land Divided For Sale

A piece of property along Rt. 242 in Lake Ozark is now available for development after the Lake Ozark Board of Aldermen recently approved an application to subdivide the land.

The board adopted a recommendation from the Planning and Zoning Commission to subdivide 66.3 acres along Rt. 242 into three parcels of land currently owned by LPS One, LLC. Longtime resident, landowner and developer George Stanton is a representative of the LLC.

The lots are on the north side of Rt. 242 near the area of the old asphalt plant.

There are not yet public utility access points within the area proposed for subdivision.

Because the board approved the preliminary plat, the land is now suitable for future commercial or residential development since the lots meet requirements of a Planned Unit Development (PUD), as it’s presently zoned.

A closing on the property was scheduled for Sept. 17. According to a Realtor involved in the closing, buyers for Lot 2 have begun the process of researching utility extension and installation needs.

The land is within the Horseshoe Bend Tax Increment Financing (TIF) project area which was originally reviewed by the Lake Ozark Board of Aldermen in 2006 and enacted in 2016.

The opening of Rt. 242 took place 10 years ago.