BRANSON, Mo. (AP) - Branson will not be giving tax incentives to developers of a proposed $446 million water park and resort.
The Branson Board of Aldermen voted 5-1 against the incentives Tuesday night.
The Springfield News-Leader reports the proposal would have allowed the city to set up a tax increment financing plan for the Branson Adventures water park and to declare the 302 acres where it would be built as blighted.
The developer, CP Branson, sought up to nearly $116 million, plus interest, in reimbursements over 23 years.
After the vote, the company said it is considering alternate locations for the park.
Alderman Betsy Seay said she voted against the tax increment financing because she didn’t believe the developer was transparent enough and she found several discrepancies in the proposal.
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Information from: Springfield News-Leader, http://www.news-leader.com
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