Branson Landing closer to start of construction

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After two years of waiting, Branson Landing is almost ready for construction on the planned convention center and lakeshore improvements. During its Feb. 18 meeting, the Branson Board of Aldermen approved a redevelopment agreement with HCW Development of Branson after a 4 1/2-hour public hearing.|ret||ret||tab|

As developer, HCW has until July 1 to receive binding commitments from anchor tenants, including a themed lodge, outdoor leisure retail store and an aquarium project. City officials are asking for commitment letters for $15 million in financing and $10 million in equity commitments. The city's obligation also includes signing a master lease and development agreements with HCW for the convention center and public improvements.|ret||ret||tab|

Choosing a developer for the project was one of the final steps needed to get a state Tax Increment Financing approval from the Missouri Department of Economic Development. This will allow the city to capture half of the new state sales taxes generated by the development when it is complete.|ret||ret||tab|

Jerry Adams, communications director for the city of Branson, said all of the information needed for TIF approval has been submitted to the Missouri DED, except for a secondary study by Economic Research Associates of San Francisco. This study will verify an earlier feasibility study by Convention Sports and Leisure of Minneapolis.|ret||ret||tab|

The two-month study by Convention Sports and Leisure confirmed that a convention center downtown would be "market supportable."|ret||ret||tab|

According to that study, 178 events would be held annually attracting groups of between 500 and 2,000 people. The economic impact would be $70 million in money spent by visitors and almost $4 million in new tax revenues for the city. |ret||ret||tab|

Adams said this revenue, along with more visitors, will complement many Branson businesses as families wrap their vacations around business trips.|ret||ret||tab|

"We hope it will be another attraction and another reason for people coming to Branson. It will bring another level of visitor, and that's your conventioneer, to Branson. They tend to spend more money and will also bring their families, and will turn their business trip into a vacation," Adams said.|ret||ret||tab|

The convention center also will enhance year-round employment.|ret||ret||tab|

The cost of the convention center is an estimated $45 million, including land. It will encompass 87,500 square feet of rentable space that includes 60,000 square feet for exhibits, 20,000 square feet for ballroom/multipurpose, and 7,500 square feet for meeting rooms. |ret||ret||tab|

"If all goes well, we could break ground in early fall of this year, and it could be ready in the fall of 2005," Adams said.|ret||ret||tab|

Once ground is broken, Adams said, a management firm will be hired to start marketing the convention center for future events |ret||ret||tab|

No other meetings are planned for the project as the city waits for the go ahead.|ret||ret||tab|

"Right now we are just waiting on the TIF approval, as soon as it is approved, the project will be on the fast track," Adams said.|ret||ret||tab|

City officials hope to hear about the approval within the month.|ret||ret||tab|

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