A $5.1 million Tax Increment Financing plan was approved for the second time by the city of Osage Beach in March 2011 after an amended TIF plan was resubmitted because Best Buy, anticipated to be a second major retailer in the center, withdrew because of weak retail sales in 2010.
The TIF agreement provides for a TIF incentive to the developer of $3 million for the Dierbergs grocery store and an additional $2.1 million for the remaining retail buildings.
The store will be the company’s 25th and is its first outside the St. Louis metro area.
Dierbergs Markets intends to maintain a minimum of 80 full time-equivalent employees within the Dierbergs store. Proposed tenants in the entire project are expected to maintain 110 full-time equivalent employees for a total of 190 FTEs.
The store will anchor a multi-store development named Dierbergs Lakeview Pointe Shopping Center.
A groundbreaking was held in early May to mark the start of construction on the 77,639-squarae-foot grocery store.
Features will include:
•A 30-foot high Market Hall structure with of natural light, trusses and other architectural details.
•An expansive Lakeview Terrace with indoor and outdoor seating areas overlooking the lake.
•An extensive whole life department of organic and natural foods.
•One of the Midwest’s largest fresh-prepared foods programs for on-the-go or in-store dining.
•The balance of the center will be occupied by two to three junior anchor stores, plus other retailers in spaces attached to the supermarket.