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For Immediate Release
Contact: Greg Williams, vice president
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Chamber
updates Legacy of Flight project |
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Springfield’s economic development partnership team has issued
a status report on the proposed Legacy of Flight project to officials of
the Kalamazoo Aviation History Museum, the developer of the proposed
380,000 square foot entertainment project slated for construction at the
intersection of Interstate 44 and U.S. Highway 65. Certain development incentives have already been proposed by the local development team. If developers of the project can dedicate a minimum of $4 million additional owner equity towards the $139 million total project cost, the Springfield City Council will consider the following city staff recommendations related to necessary public improvements at the proposed site in northeast Springfield. The City will acquire the right of way and build the access road from Mulroy Road, at an estimated cost of $4 million. The road construction is contingent on the City’s ability to recover some of its costs from future development other than the Legacy of Flight project. The city initially would construct a two-lane road along the right-of-way, with expansion of the system based on future development. Certain conditions would apply in order for construction of the roadway to occur. Those include 1) the city and Greene County entering into an interlocal agreement regarding annexation, zoning and shared responsibility and cost for the road; and 2) Springfield City Council approving a policy allowing the city to recover costs and build necessary streets for future development. The Greene County Commission earlier committed $1.5 million to assist in the local development of the proposed tourism project. The county funds are restricted to infrastructure and roads. Greene County also has pledged to consider making additional funds available, contingent on the participation of other local, state, and national government entities. Springfield’s economic development partnership team continues to focus on annexation of the proposed tourism site, zoning and the financing package, which could exceed $90 million in various industrial revenue and community improvement district bonding. #### |
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