The redevelopment plans and the Tax Increment Financing District for the High Pointe Center are in jeopardy.


The lack of a signed agreement between the developers and the city is drawing fire from elected officials who are tired of waiting. The TIF agreement has been on the city’s agenda for months without the developers, the Raul Walters group, signing the agreement.


The redevelopment plans and the Tax Increment Financing District for the High Pointe Center are in jeopardy.

The lack of a signed agreement between the developers and the city is drawing fire from elected officials who are tired of waiting. The TIF agreement has been on the city’s agenda for months without the developers, the Raul Walters group, signing the agreement.

Last week the board issued a formal ultimatum to the developers, warning them that time was running out. An agreement needs to be finalized or the board will take immediate action, according to City Administrator Nancy Viselli.  

If the agreement is not in place by the Dec. 3 board meeting, aldermen will have the first reading of an ordinance to repeal the TIF district. The second reading would be on the agenda for the mid-December board meeting.

If that were to happen, the developers would have to start the entire process over and it is unlikely the city would approve a TIF a second time.

Viselli said aldermen feel like the developers are dragging their feet. First they cited the economy and then there was some discussion about whether or not the buildings were going to be demolished of left standing. The discussions are over, she said.

“We’ve made it clear, take it or leave it,” she said. “We’re not bluffing. We have done a walk-through of the property and are waiting for the report. We will move forward with condemnation or force the developers to bring the buildings up to code. We have waited long enough.”

The $33 million redevelopment plan calls for the construction of a one-story center with 150,000 square feet of retail space. The developer was given $5 million in reimbursements in the form of a TIF.

The project is at the site of the old Wal-Mart and strip mall in the High Pointe Shopping Center off Highway 54.

The project would revitalize the shopping center that has deteriorated over the last several years.
At one time, Wal-Mart held the lease on the anchor store. The giant retailer moved when the Supercenter was built.

Osage Beach has approved two TIF districts in the last eight years. The first was the Prewitt Point development at the intersection of Highway 54 and Route 42.

The second TIF was approved late 2007 for a resort/hotel being developed on the Grand Glaize Arm by John Q. Hammons of Springfield, Mo. The Hammons project is on hold due to ongoing litigation.