Williams said in his letter that he and his client believe the city has not made timely Economic Activity Taxes (EATs) payments as required under the 2007 TIF cooperation agreement. These include $84,700 in Phase 2 EATs payments for the second quarter of 2017, and $139,000 in sales tax for Phase 2 from July through November 2017, according to RIS, Inc., interpretation.
At a November board of aldermen meeting, Andy Prewitt, representing RIS, shared concerns about the alleged payment shortfall and the city's accounting for the project.

The owner of a major development in Lake Ozark is threatening suit over what he says is the city's failure to meet its Tax Increment Financing obligations.
Sunrise Beach attorney Greg Williams notified city officials by letter Dec. 6 that if the city does not provide documents and funds requested by RIS, Inc., owner of the retail development Shoppes at Eagles' Landing, the matter could be headed to court. The deadline to respond is Dec. 16.
"Please be advised that I have been authorized and directed to commence a lawsuit to obtain the accounting and any unpaid sums due and owing to my client if the demands set forth are not timely satisfied. Your immediate attention to this matter is required to avoid further legal action," Williams said in his letter to the city.
RIS, Inc., believes the city has not disbursed TIF funds collected for Eagles' Landing and cited a "continued lack of accounting and cooperation."
Williams said in his letter that he and his client believe the city has not made timely Economic Activity Taxes (EATs) payments as required under the 2007 TIF cooperation agreement. These include $84,700 in Phase 2 EATs payments for the second quarter of 2017, and $139,000 in sales tax for Phase 2 from July through November 2017, according to RIS, Inc., interpretation.
At a November board of aldermen meeting, Andy Prewitt, representing RIS, shared concerns about the alleged payment shortfall and the city's accounting for the project.
"In June, we discovered massive discrepancies in city's accounting of the TIF and cooperation agreement revenues," Prewitt told the board. "The numbers don't add up and there has been a major lack of transparency and cooperation on the part of the city."
After the November meeting, Lake Ozark City Attorney Chris Rohrer said in a statement that the city stood by its interpretation of the cooperative agreement and that it is in compliance with the terms of the agreement.
"We believe the city is in compliance with the agreement and has captured and paid out all sums that are presently due under the TIF and cooperative agreement," Rohrer said. "It was recently brought to our attention that RIS, Inc., has a different interpretation of the documents. The city’s legal counsel and accountants are reviewing the city’s compliance with the TIF and cooperative agreement documents and working with RIS’s legal counsel to amicably reach a mutual understanding."
Gary Prewitt, RIS principal, says the city needs to provide adequate information and help RIS get this matter straightened out.
In a statement provided by Prewitt this week, he said “city officials have refused to share public documents with their partner in the TIF arrangement for six months.”