Frisco Lane Top Priority For TIF Revenue Spending

Make It Count

SPRINGFIELD, MO. -Commercial Street residents and business owners are closer to finding out what improvements are coming to C-Street.

A final public meeting was held Thursday night to decide how more than a half million dollars will be spent.

For the last 8 years, funds have been collected through the Tax Increment Financing Plan, known as TIF. And now it’s time to decide where those $564,000 will go.

City planners made three recommendations based on comments from stakeholders in C-Street that was collected last month during the first public meeting. A list of several projects was discussed and stakeholders listed their priorities on that list. 

After analyzing the results, the number one priority, city planners said was acquiring Frisco Lane.

“That was something that staff was in favor of as well, so we are in glad to hear that. We think it’s a great opportunity,” said Sarah Kerner, interim economic development director. 

This would allow the city to purchase the area behind the businesses on the north side of C-Street between Benton and Campbell.

“We have the money; we need to do it,” said Martha Cooper, a resident and business owner in the area. 

“All of the businesses on the north side of the street don’t have legal access to the back side of their property. So you’re going to see a lot more development,” said Mary Collette, president of the Commercial Club. 

Developments like access to the back of the buildings, parking, and space for trash collection.

The entire Frisco Lane project would cost about $975,000, but the City of Springfield would pay for about $752,000 leaving only about $223,000 that would come out of the TIF revenue.

“We have about $700,000 of rail credit with BNSF that the city is willing to put towards this project,” Kerner said. 

The city recommended three options stakeholders can choose from. Option one – acquire Frisco lane and bank the remaining funds. Option two – acquire Frisco lane and improve two alleyways. Option three – acquire Frisco Lane, use all TIF funds and commit future TIF revenue for design and construction.

“We acquire that and then bank. I think that would be better, and then, later on we could have more money to work with,” said 

But the city will wait to hear from stakeholders before making a final decision. City planners collected comment cards and will continue to receive those throughout this week. They hope to bring the final project to City Council on Oct. 3. There will be a public hearing that day as well.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Local Sports

More Local Sports

World News

More World News
Make It Count

Trending Stories

Washington DC Bureau

Washington DC Bureau

Newsfeed Now

More Newsfeed Now