The Missouri State University Board of Governors tomorrow plans to consider a lease agreement for its downtown silos.
The silos are attached to and adjacent to Jordan Valley Innovation Center.
The
board’s Feb. 17 agenda states the lease agreement would be with Vertical Innovations LLC for agricultural production of edible food plant varieties at 310 E. Phelps St., 524 Boonville Ave. and 430 Boonville Ave.
“I would categorize it as urban food production,” said Allen Kunkel, MSU associate vice president for economic development and director of JVIC.
Kunkel said in addition to the silos on the east side of the downtown building, the board would consider leasing the larger former MFA Oil Co. silos south of Phelps Street and land adjacent to JVIC. He declined to provide further details, saying more information would be available following the board’s vote.
If approved, Vertical Innovations would pay $41,950 annually to lease 24,650 square feet for five years starting March 1. The company would be responsible for any alterations or improvements, as well as utilities, according to the board agenda.
The contract also includes estimated costs for cleanup of the site, starting with the execution of the lease.
Costs range from $500,000 to $750,000 to add environmental control equipment, grow rack systems, concrete sealing and electrical improvements to $12 million to install a greenhouse enclosure around the facility, as well as plumbing and logistics work. Cleanup costs also would include the removal of an unusable structure and railway steel, according to the board agenda.
David Geisler, who’s listed in state filings as the registered agent and organizer on Vertical Innovations, could not be reached for comment by deadline. Geisler is general counsel at Morelock-Ross Builders Inc., according to his
LinkedIn profile.
