Plans for an aquarium in Branson are moving forward after the Branson Board of Aldermen this week voted to approve Tax Increment Financing for the project.
Kuvera Partners, which will build the 46,000-square-foot aquarium at the northwest corner of the vacant Grand Palace property, held a groundbreaking ceremony Wednesday.
The proposed Aquarium at the Boardwalk is a $51 million project, and Kuvera Partners asked for $7 million of TIF assistance. That $7 million will come from sales and admissions from the Aquarium itself and property taxes, generated within the TIF district, according to Branson city officials.
The TIF was unanimously approved by the Branson TIF Commission in January.
“We are excited about this opportunity to see an iconic location along 76 Highway be brought back to life.," said Branson city administrator, Stan Dobbins. "This project and TIF fits in line with Branson family values, will spur economic growth across the city and will do what TIF’s are meant to do--develop partnerships with developers with no risks to the city or its residents,” said City Administrator Stan Dobbins.
The attraction is expected to open next summer.