Stone County Getting Stuck?
It seems even the Ozarks are not immune to trickle- down economic effects. The Columbian Bank, which financed most of the Indian Ridge Development adjacent to Branson West, was put into receivership by the FDIC last August.
Indian Ridge was to be a huge project covering over 1,000 acres, with a projected $1.6 billion budget. Original plans called for a Resort Hotel; High-tech Convention Center; Extra large indoor water park, plus outdoor water park; Championship Golf Course; Condos, single-family lots; Themed Retail Shopping Mall; Restaurants.
Some condominiums have been constructed, with others started after alot of earth-work for projected roads, etc, but it all sits silent now. This leaves Stone County with a big headache. County Commissioners don't want to recall the bonds the county holds for the project. The recall would end the development, but create problems for the county, which would then be responsible for the infrastructure's completion.
Developers have to wait, under federal regulations, until the FDIC can send some funds, or they may send the note to auction. Indian Ridge will sadly remain on hold indefinitely - a sad reminder of this period in time as tourists drive by on Highway 76 to Branson's shows.
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