A new retail development may be coming to the City of Ozark.
The Ozark Board of Aldermen heard three bills Monday that would lay the way for what would be called the Ozark Marketplace Subdivision.
It would develop 13 lots on approximately 26 acres near the intersection of 20th and South Street in Ozark. It has the backing of the Ozark Chamber of Commerce. In a post to social media the Chamber described the development as a “potential new commercial hub.”
At the presentation Monday developers shared the names of businesses they say are considering moving into the potential property including ALDI, McDonalds and Dutch Bros Coffee. According to statements made at Monday’s meeting ALDI wants to get a store open in the Marketplace by the end of the year. Because of that the developers are also asking Ozark to approve a special agreement that will allow construction to start while public infrastructure improvements are still being made.
Monday the developers presented the final plat of the planned development to Ozark’s Board of Aldermen for approval. They also asked the Board to consider establishing the property as a Community Improvement District, or C.I.D., as such the district would be able to levy an additional sales tax on purchases made within its boundaries, to be spent on certain projects to improve the property. Developers are also asking that the property be declared blighted as part of its development plan and its request for tax abatements. Those abatements would last 25 years, starting at 100% abatement and decreasing every five years.
Much of the discussion Monday night centered on the definition of blight. Aldermen Chris Aiken acknowledged that the property, which is mostly pasture may not meet much of the public’s expectations of blight. He asked the urban planner hired to do the developer’s blight study, Pat Sterrett, how it compared to other properties he had assessed.
Sterrett said it was not uncommon to have blight declared for property that is mostly open ground. Sterrett said as long as there are conditions that meet the definition of blight such as flooding, and as long as human development such as roads have contributed to those blight conditions it can meet the requirement for blight.
The project's plat, CID and tax abatement will get a final vote at the next Aldermen meeting. If it moves forward as planned full buildout for the 13 lots is expected to take 3 to 4 years with an estimated $50 million in total construction costs.