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Potential $3 million shortfall remains for Heer’s Tower plans
by James Hanson
Council reiterates importance of redevelopment
Financing remains the key hurdle in re-development plans of the Heer’s Building.
St. Louis developer Kevin McGowan, the founder of the urban renovation firm Blue Urban, gave an update on the status of the project during City Council’s Tuesday luncheon.
“These are awful economic times right now,” he said. “The condo market has been obliterated.”
“There is a growing commercial banking crisis,” he added. “It will make lending for commercial projects nothing but tougher for the next 24 months.”
He said the real estate business is a risky game, even in the best of times.
“Today it is even riskier,” he said.
McGowan said there are a lot of folks in Springfield, back in St. Louis and Kansas City, working very hard to put this deal together.
The Heer’s Building is a $30 million development, which McGowan said is a decent size project, even in Kansas City and St. Louis.
“It is a structure that has a long history and one that is deserved of its place on the square and of saving,” he said.
“I can’t wait to get the Heer’s project started,” he added.
McGowan said they have had a battle with the National Parks Service (NPS) over what is going to be done in the Heer’s building, due to it being built in two different construction periods.
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“They {NPS} said they would deny us the tax credits on the annexed portion side, which would make development impossible,” he said.
Also several aspects of his original development agreement have been changed over the years.
The initial condo plan was converted to an application to Housing Urban Development (HUD) to finance market-rate apartments.
McGowan said the long-term goal would be to still convert the apartments into condos when the market makes a comeback.
His first application to HUD expired because a complete financing package wasn’t available.
HUD had provided initial approval for $11.8 million of the project.
A second application for the same amount will be submitted by the end of March. With that financing, plus letters of commitment from Chevron and Commerce Bank to buy his federal and state tax credits, private guarantees from his development partners and deferring their own payback for several years, leaves about a $3 million gap in financing to complete the project now whittled to $29.2 million.
“Financing is a miracle nowadays and the only miracle out there is HUD,” he said. “HUD likes Heer’s and HUD likes Springfield.”
He said his team is looking at a couple of different options to fill the gap.
One option might involve applying for Recovery Zone bonds available under the federal stimulus program.
He said he wasn’t prepared to discuss other options yet but expects to re-visit with Council in a month or so to provide another update. He assured the Council that he doesn’t anticipate asking them to consider possible incentives that aren’t already included in the development agreement.
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McGowan said he feels at the end of the day, the Heer’s Building will still be the most beautiful building he has ever developed.
“The levels of finish going into these apartments are condo level finishes,” he said. “Jacuzzi tubs, swimming pool on the roof, library, meeting rooms, a weight room and more.”
“This is a first class apartment facility,” he added. “On the lower floor, which is the first floor, we have a lease from Mike Shannon’s Steaks and Seafood and a lease from the Minorite Group, which is a restaurant development company I own, and we are close to hopefully announcing a Springfield partner we are in talks with, but we are going to put a bowling alley/restaurant on the remainder of the first floor. The first floor we are done with and the apartments will do very well here in Springfield.”
Plans have been submitted, approved and ready to permit by the City of Springfield.
“I can assure you we’re doing the very best we can to move this forward,” McGowan said. “Primarily for one reason. I’m absolutely convinced that if we don’t get this done soon, that building will sit there for at least three years.”
Mayor O’Neal and members of the council all agreed the City has keen interests in seeing Heer’s redeveloped.
O’Neal discouraged McGowan from asking the City for any direct financial assistance to close the remaining gap because of the City’s own financial situation.
McGowan said the project has to get done.
If the financing can be completed, redevelopment of the building should be done within a year once the screw guns and nails get going.
“We’re this close to creating hundreds of jobs and we’re this close to investing millions of dollars into the Springfield community,” McGowan said. “This is a project that is great for Springfield and it is great for Downtown.”
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City Council - ¼ Cent Community Improvement Sales Tax will be voted on
by James Hanson
Bond transfer to SPS to be decided at next meeting
Voters will have a chance to make their opinion known on June 8, 2010.
Last night, City Council approved the resolution to hold the June 8, 2010 election regarding the continuance of the one-quarter of one percent Capital Improvements Sales Tax for a period of three years, which if passed, would expire on September 30, 2013.
The sales tax is not an increase in current sales tax, merely a continuance of the current sales tax in place to ensure completion of Capital Improvement projects throughout the city.
Council members agreed the election process is a valid and viable way for the citizens they represent to make their voices heard and decide the best way for the city to use their money.
City Manager Greg Burris updated the Council on the progress of sidewalk inspections, which was prompted by the unusual situation that occurred with the “box-top” sidewalk near McGregor Elementary School last week.
Burris said city staff was very relieved that none of the children sustained any serious injuries. After initial inspections, Public Works did find three areas of concern at Locust and Douglas; Bennett and Kickapoo; and 1212 W. Harrison.
He said steps have already been taken to address those situations.
Public Works had inspected in greater detail 12 of the 21 sector maps, and is expected to finish the other sector maps by the end of Tuesday. Minor traverse cracks have been noted but no repairs are warranted at this time.
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Burris also informed the Council that he is proceeding with plans to delay the third-quarter budget reconciliation until mid-April. He said the City received information from the Department of Revenue that indicates some timing issues did affect the March check, thus the 18 percent drop appears to be artificial to some degree.
Burris plans to use the April check, along with more updated information on municipal fees and PILOTs, to provide recommendations by mid-April.
Information from the city’s Listening Tours is in the process of being printed and should appear on the city’s web site soon as well. Planning groups’ use this information to work toward a community consensus on their goals uses all information obtained.
A second, shorter set of meetings at eight Springfield Public Schools is underway to obtain some additional next-generation perspective.
He also informed the council that this is deadline week for the Request for Information for Google’s Fiber-for-Communities test project. There has been a short turn-around on the project. Burris expressed his appreciation to the team working on the information as well as the 7,000 Facebook supporters, whom they hoped were submitting the community nominations.
Council will make a decision at their next meeting on whether to proceed with allocating assignment of Recovery Zone Economic Development Bonds to the School District of Springfield R-XII, in connection therewith designating a Recovery Zone, all pursuant to the American Recovery and Reinvestment Act of 2009.
There is $10 million available in Economic Bonds and $15 in Facility Bonds. The city can transfer those bonds to the school district, which would like to use those bonds with their upgrade projects at Westport Elementary and Hillcrest High School, which are both adequate to be a Recovery Zone.
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The bonds if not used by SPS, would then revert back to the City on June 1. If they are transferred, the school becomes responsible for the bonds. The City would have no responsibility to the bonds.
In other action:
· Removed Council Bill 2010-90 from the Consent Agenda. The bill would authorize the City Manager or his designee, to apply for, accept, and implement a grant from the Centers for Disease Control and Prevention for the purpose of developing and implementing food safety training programs, monitoring violations and adding a Food Safety Educator. Council had general questions in regards to the purpose of the programs, need, and if the educator position would be full-time or temporary. The bill will be voted on at their next meeting.
· Approved minutes of March 8 and March 16 meetings.
· Approved Consent Agenda.
· Confirmed the following re-appointments to the Public Housing Authority: Patty Van Weelden and Bill Ladd with terms to expire April 11, 2014.
· Confirmed the following appointments to the Police Officers and Fire Fighters Retirement System Board of Trustees: Joshua D. Hartman and Charles B. Cowherd with terms to expire April 30, 2011; John M. Bishop with term to expire April 30, 2012; and Marilyn Hill with term to expire April 30, 2013. Everyone will be officially sworn in at a date to be determined.
To see a complete summary of last night’s meeting and to view upcoming agendas, visit http://www.springfieldmo.gov/home/home.jsp#page=page-1.
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Link to latest Springfield Public Schools Audit Report:
http://springfieldpublicschoolsmo.org/finance/documents/2009SPRINGFIELDAUDITREPORT.pdf
Community Events
March 26 to April 9
Little Acorns: Spring Peepers:
March 26—11 to 11:45 a.m. and 1:30 to 2:15 p.m. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Children ages 3 to 6 learn about Missouri’s tiny frog, the spring peeper. Little Acorns are limited to one per month. To register, call 417-888-4237.
Springfield All School Exhibit:
March 26 to April 18. Springfield Art Museum, 1111 E. Brookside Dr. Artwork from Springfield students will be on display. The museum is closed on Monday and open Tuesday, Wednesday and Saturday from 9 a.m. to 5 p.m., Thursday from 9 a.m. to 8 p.m., and Sunday from 1 to 5 p.m. For more information, call 417-837-5700 or visit www.springfieldmogov.org/egov/art.
The Outpouring:
March 26 – 7:30 p.m. March 27 – 2:30 p.m. Stained Glass Theatre, 1996 W. Evangel St, Ozark. Believers have to thwart Satan’s plan to destroy America. Tickets are $8 for adults, $5 for children age 2 to 12 and $6 for groups of 15 or more. Season tickets are available as well. For more information or to purchase tickets call 417-581-9192.
Talk Radio:
March 26, 27 and April 1, 2 and 3 – 7:30 p.m. March 28 – 2 p.m. Springfield Contemporary Theatre at the Vandivort Center, 305 E. Walnut, 4th floor. Talk radio host Barry Champlain is about to make it big. The show is set on the night before his radio program is going national. The play is a Springfield area premiere. Tickets are $12 for the opening weekend. Following shows are $18 for adults, $15 for seniors and students and $10 for student rush 30 minutes before each performance. For more information, call 417-831-8001 or visit www.springfieldcontemporarytheatre.org.
Robot Workshop:
March 26 – 6 to 8 p.m. Discovery Center, 438 E. St. Louis St. Parent/child duos build a robot. The workshop costs $15 for members and $20 for non-members. The robot kit costs $25. The event is for children age 8 and up. To register call, 417-862-9910.
For Adults Only: GPS For Beginners:
March 27— 9 a.m. to noon. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Corps of Engineers GIS Specialist Tricia Tannehill will explain how to use Garmin GPS units, which will be provided. For ages 18 and up. To register, call 417-888-4237.
Biotech Academy:
March 27 – 9 a.m. to 1 p.m. Discovery Center, 438 E. St. Louis St. High school students get first hand experience in molecular biology techniques, tour the new Center for Biomedical and Life Sciences at the Jordan Valley Innovation Center and talk with biomedical scientists. Lunch is included. Admission is $40 per student. To register call, 417-862-9910.
Free citizenship workshop:
March 27 – 10 a.m. Pathways/ La Trinidad Methodist Church, 1232 Dale St. Group Latinoamericano is hosting a workshop to help immigrants with the process of citizenship and getting a residency visa. Immigration lawyers will be there to discuss the naturalization process. For more information, call 417-865-0608.
Conservation Kids’ Club: Flower Power:
March 30— 6:30 to 7:45 p.m. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Children ages 7 to 12 can learn about Missouri’s spring wildflowers. No younger siblings and only one adult per group of kids. To register, call 417-888-4237.
Learn to Skate:
March 30 to May 22. Mediacom Ice Park, 635 E. Trafficway. Learn the basics in eight weeks and get eight free practice sessions. The class costs $90 and includes skate rental. It is for all ages. For more information, call 417-866-7444.
Learn to Play Hockey:
March 30 to May 20. Mediacom Ice Park, 635 E. Trafficway. Learn the fundamentals of hockey during an eight-week course. Eight free practice sessions are included. The class costs $90 and includes skate rental. It is for youth to adult. For more information, call 417-866-7444.
Ozark Greenways Adventure Race Informational Meeting:
March 30 – 6 p.m. Lake Springfield Boathouse, 2312 Lake Springfield Rd. Those who would like to participate in the adventure race should attend the meeting. The canoeing, mountain biking, orienteering and running race is being held May 22. For more information, visit www.ozarkgreenways.org.
The Way of the Cross:
April 2 – noon. Park Central Square. To celebrate good Friday different service agencies who minister in the area will lead the reflections on Jesus’ experience in His last hours.
Hot L Baltimore:
April 2, 3, 8, 9, and 10 – 7:30 p.m. April 4 and 11 – 2:30 p.m. Lander’s Theatre, 311 E. Walnut Ave. Springfield Little Theatre is performing Pulitzer Prize winning playwright Lanford Wilson’s Hot L Baltimore. The play shows the lives of the people who live in a rundown hotel. It is 2 hours long and is for mature audiences only. Tickets are $23 for adults, $20 for seniors, military and students and $15 for children ages 14 and under.
Naturescaping Symposium and Native Plant Sale:
April 3— 9 a.m. to 4 p.m. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Learn how to landscape using native plant species from a series of guest speakers. There will also be exhibitors and a plant sale.
Easter Egg Hunt:
April 3 – 2 p.m. Nixa Community Center, 701 N. Taylor Way, Nixa. The egg hunt will take place on the soccer fields. The event is free.
Enrichment EGGstravaganza:
April 3 –10 a.m. to 2 p.m. Dickerson Park Zoo, 1401 W. Norton Rd. The zoo’s animals go on their own Easter egg hunt. Zookeepers hide paper-mache eggs filled with treats for the animals. Admission is $8 for adults and $5 for children ages 3 to 12.
Little Farmers:
April 3, 10, 17 and 24 – 9:30 to 10:30 a.m. Rutledge-Wilson Farm, 3825 W. Farm Rd 146. The four-week program is designed for children ages 4 to 5 and their parents or guardians. Each week participants will learn about a different animal through activities and interaction. The entire session costs $25. For more information, call 417-837-5945.
Nighthawk Express Bluegrass Show:
April 3 – 6:30 p.m. Firefighter’s Local 152, 2350 N. Clifton. The show features Ripplin’ Creek Bluegrass, Flat Creek Bluegrass and Nighthawk Express. The show is free but donations are accepted. There is a bluegrass jam from 5 p.m. to 6:30 p.m. For more information, call 417-833-0904.
Easter Sunrise Service:
April 4 – 7 a.m. First Baptist Church, 525 South Ave. The service is being held on the south lawn. There will be special music and an inspirational message by Pastor Michael Overton. Light breakfast to follow.
Easter Sunrise Service:
April 4 – 7 a.m. Cornerstone Church, 1701 S. Fort Ave. The church will be holding an hour-long Easter service open to the public. There will be special meetings for children including an Easter egg hunt. There will be a larger service at 10 a.m.
5th Annual Greater Springfield Easter Sunrise Celebration:
April 4 – 6:15 a.m. Hammons Field, 935 E. Trafficway. Volunteers from multiple area churches and the Hammons Field staff have put together a community-wide event that includes music, testimonials, prayer and worship. For more information, call 417-882-3222.
Little Acorns: Hooray For Hummingbirds:
April 7—11 to 11:45 a.m. and 1:30 to 2:15 p.m. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Children ages 3 to 6 learn about hummingbirds. Little Acorns are limited to one per month. To register, call 417-888-4237.
A Funny Thing Happened on the Way to the Forum:
April 8 to 10 – 7 p.m. April 11 – 2 p.m. Parkview High School, 516 W. Meadowmere. The Parkview High School Performing Arts Department will perform the Tony Award-winning musical set in ancient Rome. It tells the story of Pseudolus, a slave, who is trying to win his freedom by helping his master win over a girl. Tickets are $8 for adults, $6 for seniors and students and $4 for children 12 and under and Parkview students. They can be purchased by calling 417-523-9300 or by visiting www.phstheatre.org.
Round Bobbin Quilting and Sewing Expo:
April 8 to 10 – 9 a.m. Springfield Expo Center, 635 St. Louis St. Classes will be held each day on a variety of sewing and quilting topics. There will also be vendors, lectures, demonstrations and door prizes. For more information, visit www.roundbobbin.com.
Little Acorns: Cottontail Tales:
April 9—11 to 11:45 a.m. and 1:30 to 2:15 p.m. Springfield Conservation Nature Center, 4601 S. Nature Center Way. Children ages 3 to 6 learn about rabbits. Little Acorns are limited to one per month. To register, call 417-888-4237.
Sertoma Trivia:
April 9 – 6 p.m. Executive Conference Center, 910 W. Battlefield. Teams of 6 to 8 compete to raise money for the Boys and Girls Clubs of Springfield and to win prizes. Registration is $15 per person. Pre-registration by March 31 is recommended. For more info, visit www.queencitysertoma.org or call 417-863-1231.
The 7th Natural Healing Arts Fair – Dancing Into the Garden of Life:
April 9 – 7 p.m. to 10 p.m. April 10 – Fair: 11 a.m. to 5 p.m. Kindred Souls Social Hour 6 p.m. April 11 – 11 a.m. to 5 p.m. Energy in Motion: The Natural Healing Center, LLC presents the fair, which features all natural healing events with meditations, presentations, workshops and over 50 booths and exhibits. Tickets are $15 in advance or $18 at the door on April 9. The following days are $5 for adults, $3 for seniors and free for children under 12. Advance tickets are $3. For more information, call 417-849-0109 or 417-631-5980 or visit www.energy-in-motion.biz. |
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