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Head Motor Company Partnership Continues: Earlier today, representatives of the City of Lake Ozark were presented a check for $25,000 from Head Motor Company/ Head Indian to assist in offsetting expenses related to supporting the Rally on the Strip event happening throughout this week. Throughout the weekend, Head Motor Company offers demo rides of their motorcycles at 3070 Bagnell Dam Boulevard, and they have a vendor tent set up on the Strip selling merchandise. Now in its fourth year, this partnership between the City and the Rally on the Strip presenting sponsor began in 2021 to ensure that a safe and accessible environment for bikers could exist on the Bagnell Dam Strip during Bikefest. Money received through this partnership goes to assist Lake Ozark Police Department with personnel and equipment expenses throughout the event, as well as additional staff support from Lake Ozark Public Works.

TEST TW WEATHER

Posted on by dan

More workforce housing proposed for Lake Ozark

A housing developer with a track record of success in Lake Ozark wants to continue providing working class housing in the community.

Briscoe Ozark Development Group, developer of Fish Haven Apartments and Fish Haven Estates retirement community, is hoping to expand the footprint of affordable housing along South Fish Haven Road with two 20-unit complexes adjacent to Fish Haven Apartments. 

The board of aldermen recently gave first-round approval of an ordinance adopting a Planning and Zoning Commission recommendation to rezone 19 parcels of land along Fish Haven Road, Hickory Drive and Forest Hills Road. The rezoning would be from Manufacturing Home Park Residential and R-1 Low Density Residential to R-3 Multi-Family residential. Second reading is expected at the regular Aug. 25 board meeting.

The board also approved first reading of an ordinance rezoning property fronting Rt. 242 from R-1 Low-Density Residential to C-2 General Commercial at the request of Briscoe Ozarks Development Group. Ryan Fuller, representing McClure Engineering, said the development group does not have a specific client interested in the Rt. 242 property but wants to market the area as General Commercial to potential clients.

After final board approval, the next hurdle for the developer will be obtaining tax credits from the Missouri Housing Development Commission which would help buy down the cost of the project. 

Deadline for applying for the tax credits is September with notification expected in December.

 

Workforce housing

Pete Ramsel, representing Briscoe, said that equity raised by selling the tax credits to investors is used to help buy down the cost of the project. Private equity will fund between 85 and 90 percent of the project with the balance borrowed. That helps keep the overall cost down, making the units more affordable to the public, he explained.

Ramsel said the two-bedroom units will rent for between $500 and $600, and the three-bedroom units will rent for $550-$650 per month. 

“They are very, very affordable,” Ramsel said. “If people make too much money they can’t live there. There is no rental assistance. The difference between low-income housing and affordable housing is that these people live in the community, work in the community and pay rent.”

Fish Haven Apartments Phase 3 will offer units on a fixed income basis.

Phase 1 of the Fish Haven developments – Fish Haven Apartments – opened in early 2016. Fish Haven Estates, the senior living community across from the apartment complex, opened in early 2018 as Phase 2.

One of the proposed buildings would be located at Fish Haven and Hickory Drive. The second would be located on South Fish Haven just west of Fish Haven Estates.

“The first two phases have been great,” Ramsel said. 

He also praised Briscoe Development Group and McClure Engineering, the engineer firm for all three phases, for their partnership in the projects.

Ramsel also noted that a million-dollar Community Development Block Grant from the Missouri Department of Economic Development approved several years ago to build a regional lift station was another key factor in creation of the Fish Haven complex.