Branson seeks $13.2M loan for 76 streetscape project

The Branson Board of Aldermen yesterday held the first reading of a bill that would authorize the city to take out a $13.2 million state loan.

If approved, the 2.5 percent low-interest loan from the Missouri Transportation Finance Corp. would help fund the city’s $80 million Spirit of 76 streetscape project. Including an application fee of $19,800, the city expects to pay off the loan within 10 years, according to city documents.

The Spirit of 76 project is designed to improve Branson’s five-mile entertainment district corridor by adding wider pedestrian walkways, courtyards, landscaping, bicycle and wheelchair accessibility, an improved transportation and traffic control system, and mass transit options. It’s expected to be complete around 2020.

The loan would complement tourism tax revenue brought in by the city and a recent sales tax Branson voters approved overwhelmingly in May to fully fund the project.

The 1 percent sales tax within Branson’s 76 Entertainment Community Improvement District is expected to generate $400,000 annually. Project officials also are seeking to annex some 230 properties into the CID to meet the project’s financial scope.

The streetscape project is among $300 million in investments underway in Branson, including several new attractions.