The city of Osage Beach has been given the legal green light for hotel developer John Q. Hammons to build his planned Chateau on Lake of the Ozarks, ending a two-year legal battle with Four Seasons Marina, according to LakeExpo.com.
Hammons acquired a 30-acre piece of property on a peninsula near the lake's Grand Glaize Arm in December 2006, with plans to build a $100 million, 15-story hotel similar in design to the Chateau on the Lake in Branson.
The Osage Beach Board of Aldermen approved a designation of blight for the property, as well as a $3.7 million tax increment financing district, in December 2007.
Plans were put on hold when Four Seasons Marina Rentals Inc. filed a lawsuit against the city contesting the blight designation.
Senior Judge B.C. Drumm Jr. issued a declaratory judgment Monday, upholding the constitutionality of the TIF district, LakeExpo.com reported. John Curran, Four Seasons Marina Rentals' attorney, declined to comment to LakeExpo.com Tuesday morning when asked about the possibility of an appeal.
Plans for the hotel include 320 rooms, a spa and more than 100,000 square feet of meeting space. Hammons predicted in 2007 that the hotel would generate $25 million in annual revenue, meaning a potential annual boost of $500,000 for the city's tax coffers.
