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COLUMBIA, Mo. (KMIZ) The Lake Ozark Board of Aldermen on Wednesday approved to enter an agreement with Osage Casinos to build an entertainment district. A press release says The Osage Nation and the City of Lake Ozark entered into an agreement that includes municipal services, infrastructure improvements and government funding. Highlights from the agreements include the following payments by The Nation: Contributing 2.5% on adjusted gross gaming receipts and a 1% resort fee on hotel rooms. Paying the normal rate for water and sewer. Contributing $100,000 annually for police services. Paying for a turn lane to be placed in the right of way in front of its property on Bagnell Dam Boulevard. “This partnership with the Osage Nation represents a defining moment for the City of Lake Ozark. These agreements show what can be achieved when governments work together in good faith to strengthen our community and prepare for the future. The Osage Nation’s investment will bring new opportunities, jobs, and tourism to our city. Now that we have these agreements in place, that address many of the questions raised by our residents, we are proud to support this historic step forward,” Mayor David Ridgely said in a statement. The new property is part of a new entertainment district in Missouri announced last fall by the Osage Nation. The proposed site is at 3501 Bagnell Damn Blvd. and is expected to be completed in multiple phases, with an estimated $60 million investment in the region, previous reporting says. Phase 1 of the process includes construction of a casino, sports bar, restaurant and meeting space. Additionally, it also includes a hotel, which will have general hotel rooms, suites, a fitness and exercise facility, a pool, hot tub and a pool bar. Phase 1 construction is expected to start upon approval from the Department of Interior.
