YOUR BUSINESS AUTHORITY
Springfield, MO
Springfield is inching toward development of a Jordan Valley Park civic center. Both the Center City Development Corporation and the City Council took steps Feb. 22 toward developing the center city arena. The CCDC chose a firm to conduct a feasibility study, and council voted in favor of a resolution to proceed with the project.
Tony Sansone Jr., a St. Louis developer, announced in late 1999 that he would build the center, which is to house minor league sports and other events. The city has said it will provide the land for the center, and financing for the project could come through the Center City Development Corporation.
The development corporation Feb. 22 chose a firm to conduct the feasibility study. Mary Lilly Smith, economic development coordinator for the city, said the study is key to the center's progress.
"It's important for the city to have an independent feasibility study to look at the economic impact of this project. It will also be an important tool in the bond offering," Smith said.
The CCDC chose Economic Research Associates to conduct the study. A time line from the city indicated the Los Angeles firm's report is due April 24, and that the CCDC will make its recommendation on how to proceed, based on the report, May 2.
Economic Research Associates' price for conducting the study is $68,000, which will be appropriated out of city funds, Smith said. The city may have to pay more for a report to be used to assist the city in issuing bonds for the civic center.
The CCDC discussed potential sites for the arena. The city has not proposed a definite site for the center yet, but it has a preferred spot, which is south of Trafficway, north of St. Louis Street, east of Hammons Parkway and west of Hampton Street, said Benjamin Alexander, project manager for Jordan Valley Park.
Sansone said he and his company have done some preliminary work on that site, including engineering and feasibility studies. Following council's Feb. 22 vote, he said he planned to proceed with the preliminary site work.
Both Alexander and Smith said that though this site is now the preferred site, there are others in that general vicinity being considered. Howard Wright, city attorney, said the city is acquiring land from willing sellers in that area.
The city has received a proposal from Sansone for the civic center. It includes a provision that the CCDC own the structure and lease it back to the city. The city would also enter into a development agreement on the project which will allow it to capture half of the city's 1-cent general sales tax generated by the project to pay for the debt service on the project, Smith said. Sansone and the county are in negotiations for a similar arrangement, but nothing has been finalized.
During the public hearing on the resolution Feb. 22, some council members, including Shelia Wright and Teri Hacker, asked about the building's looks.
"I think the economics of center city are contingent on the aesthetics," Hacker said.
Kirk Warden, who represents Clayco Construction, the construction manager for the arena project, said the structure would have a concrete facade.
"I think you'll find it will fit very well with the aesthetics of the area as it is redeveloped," Warden said.
The resolution denotes the council's intention to move forward with the project, Smith said. It was approved unanimously by council. Members, including Tom Carlson, praised Sansone for his interest in Springfield's center city redevelopment.
"I think it's a credit to our efforts that Mr. Sansone has chosen to get involved," Carlson said.
Council meetings can be viewed in their entirety at 7 p.m. the Friday and Sunday following the meetings on Cable Channel 23.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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