Council considering approval of multi-million dollar project to clean up a portion of Springfield
SPRINGFIELD, Mo. (KY3) - Tuesday, Springfield City Council heard the first reading of a bill to revive a section of Springfield that’s been neglected for a decade.
Brody Corners, located near U.S. 60 & James River Freeway, is a proposed $27 million dollar plan that includes retail, restaurant, and office space.
The developer, West Sunshine Development, LLC is represented by Cory Collins with Husch Blackwell.
The project needs the city’s help to move forward.
City staff is asking the council to consider extending a tax increment financing agreement to the developers of Brody Corners.
Also known as a ‘TIF’ the developer is required to pay for the necessary improvements upfront. Those improvements include infrastructure such as streets, wastewater, utilities, all that’s needed to overhaul the 28 acres of land formerly known as The Whispering Lanes Mobile Home Park.
The city will not loan any money or fund any of the projects directly.
Once developed, a portion of the tax money collected from the businesses will be reimbursed to the developer for those improvements.
A blight study of the area was done by a local company last year.
The report shows unsanitary or unsafe conditions. There is an onsite wastewater treatment system consisting of two lagoons within a sinkhole that has not been treated or removed per a court order. There’s also large amounts of trash. It will cost more than $3 million to rehabilitate the lot.
If approved, the ‘TIF’ will help the developers turn the area around and could make it profitable instead of an eyesore.
The lot is projected to generate a little more than $287,000 of tax revenue over 23 years. If the project is built it could generate more than $4.8 million dollars in tax revenue over the same time period.
That money is shared between the city, county, schools, public libraries, and Ozarks Technical College.
A public hearing was held at the council meeting.
Only the attorney for the developer spoke to clarify any misconceptions about the funding tool as it pertains to reimbursement.
“We didn’t come in and ask you for a bond or to pay this or somehow write a check to the extent that the community or anyone here thinks that there’s going to be a check written or some pile of money that’s coming to the developer,” said Cory Collins. “That’s not what’s being asked. We all know that’s not what’s happening.”
The City council could vote to approve the project next month.
If approved Collins says the developer plans to work with the Department of Natural Resources to get the contamination on the plot cleaned up.
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