YOUR BUSINESS AUTHORITY
Springfield, MO
At its Aug. 11 meeting, council heard more about the IDEA Commons proposal from MSU President Michael Nietzel, who highlighted the university’s plans for underutilized property around Jordan Valley Innovation Center.
Earlier this month, MSU formally offered to buy the parcels from the city for $450,000 – about two-thirds of the amount the city paid for the roughly 3 acres. The city purchased the land for $679,514, with federal grants covering about 60 percent of the total cost.
Nietzel said JVIC, an MSU-affiliated research facility at 524 Boonville Ave., and Brick City, a renovated warehouse at 305 W. Mill St. that will house the university’s Art and Design Department, are the foundation for IDEA Commons. IDEA is an acronym for innovation, design, entrepreneurship and arts, which Nietzel described as “four intellectual domains that have significant synergy with each other.”
The five properties MSU has offered to buy are:
• the former Solid States Circuits site, 616 Boonville Ave.,
• the former Springfield Mortuary site, 530 Boonville Ave.,
• the former Binve site, corner of Boonville and Tampa,
• an additional portion of the former MFA mill site, 524 Boonville Ave., and
• the former Willow Brook Foods storage facility, 521 N. Jefferson Ave.
MSU also was interested in acquiring the Karchmer property at 500 N. Jefferson Ave., but Nietzel said the school deferred to another prospective buyer.
During their presentation to council, MSU officials touted the cultural and economic benefits of expanding JVIC and redeveloping the properties. Nietzel couched IDEA Commons as an economic development project that would create the high-paying jobs necessary to retain – and attract – talented college graduates.
On average, the 60 employees working for various corporate research affiliates at JVIC earn $60,000 a year. Using that average salary figure, Nietzel said JVIC employees are generating about $158,000 in Missouri income tax each year and $80,000 in state sales tax revenue annually. About a third of that $80,000 is local sales tax revenue, according to MSU’s projections.
Councilman Gary Deaver said tax revenue from IDEA Commons would be secondary to the research park’s economic ripple effect.
“It’s not just about taxes,” he said. “It’s about economic activity of the highest level.”
Nietzel also told council that if MSU purchased the properties and was unable to develop them as planned within 10 years, the school would sell the land and split the profits 50-50 with the city.
MSU also has asked the city to pursue brownfields assessment and cleanup grants available through the U.S. Environmental Protection Agency. Brownfields are contaminated sites in a designated area that may require remediation before construction is allowed.
Council is expected to vote on a resolution approving the offer at its Aug. 25 meeting.
Metal detectors approved
In other business, council narrowly approved an ordinance authorizing the city manager to purchase and install metal detectors at Historic City Hall and the east public entrance of Busch Municipal Building.
Council members voted 5-4 in favor of the proposal, which has an initial cost of $125,000 plus an ongoing annual cost of $110,000 annually for personnel and maintenance. Those who supported the ordinance likened the security measure to an insurance policy, while opponents suggested metal detectors would create a barrier with the public.
“This is something we can’t afford to be wrong on,” said Councilwoman Mary Collette, who voted for the proposal. “… I think this is one of the only votes that I’ve made in the seven years I’ve been on the council where I hope I’m wrong.”
Mayor Tom Carlson said he ultimately decided against the metal detectors after learning that Kansas City was the only municipality in Missouri actively using the security devices.
“In my view, I don’t think the case has been made for this,” Carlson said.
“On balance, I just don’t feel that this is the best expenditure of public funds,” he added.
Carlson and council members Cindy Rushefsky, Doug Burlison and Ralph Manley voted against the ordinance.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
Longtime employee sues Ozarks Tech, alleges retaliation
Cavender’s opens hat shop in southeast Springfield
Eric Schmitt introduces Modern Skies Act
Caterpillar to acquire John Fabick Tractor Co.
Springfield airport to cut the ribbon on $35M in construction projects
Legacy Bank accused in lawsuit of failing to protect customers in data breach