Proposed improvements to Commercial Street to go before Springfield City Council
SPRINGFIELD, Mo. (KY3) -
Plans to improve the Commercial Street Historic District will go before Springfield City Council on August 9th.
The Commercial Street stakeholders, the city of Springfield and community members get together every year to brainstorm ideas on how to improve C-Street. This is a part of the TIF funding redevelopment project.
More than 60 people participated in a survey on what they would like to see for this year. The results show refurbished public parking lots, directional signage and public art.
“TIF was a tool we felt could work well to help support the private investment that was taking place and some of the local small businesses by providing a long term financing mechanism to fund public improvements,” said Springfield Senior Planner Olivia Hough.
Hough said the parking improvements will include repaving, lighting and landscaping on two lots along Pacific Street. Directional signage to help navigate the district is also included in the plan. Hough said the Footbridge Plaza near the Farmer’s Market will be renovated.
“We feel like those public improvements definitely would enhance the area and would provide investor confidence and make the experience of Commercial Street a destination,” said Hough.
The plan is being funded through Tax Increment Financing which was created in 2008 to improve the historical district. The TIF funding captures incremental increases in sales and property tax over time by development in the historical C-Street District. The funding ends in 2031.
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