Chateau Lake of the Ozarks suit back in circuit court

A lawsuit over the legality of an approved tax increment financing district for John Q. Hammons' proposed Chateau Lake of the Ozarks is going back to Camden County Circuit Court, according to Lakeexpo.com.

Four Seasons Marina Rentals Inc. brought the suit in December 2007 after the city of Osage Beach approved a TIF district for the $98 million Hammons development that could generate $3.7 million.

Four Seasons, which questions the property's blight designation - required by state law for a TIF development - had requested a change of venue in the case, but that request was denied on Wednesday.

The 15-story, 320-room luxury hotel, which would include a spa and more than 100,000 square feet of meeting space, according to past coverage, is planned for a 30-acre peninsula on the lake's Grand Glaize Arm, about a mile from Osage Beach Premium Outlets.

Hammons Hotels officials estimate the property will generate about $25 million per year in revenue; since the city keeps 2 percent of sales taxes in the area, the city stands to make about $500,000 in annual revenue.

The hotel was originally slated to open in summer 2010 but has been delayed in part by the legal wrangling over the TIF district.[[In-content Ad]]