Missouri State University and the Vecino Group want to redevelop a swath of downtown Springfield into an expanded business district designed to help the city attract and retain growing companies.
Plans for the $55 million first phase call for a 100,000-square-foot office building, a 30,000-square-foot expansion of the existing Jordan Valley Innovation Center and a 400-space parking garage.
Additional plans call for construction of a new park and conversion of old silos into canvases for art installations.
The Springfield City Council is expected to vote Monday on a resolution that would signal the city’s willingness to consider spending millions on infrastructure improvements and tax incentives to support the project.
Approval of the resolution would be a first step in what would likely be a months-long process of hearings and votes to finalize financing for the project.
The redevelopment would involve $2.8 million in direct costs to taxpayers, plus millions in other incentives.
Read more: Springfield News-Leader