City, UM Collaborate on 500-Acre Park Project

Venture officials say this park will attract new public and private development, specifically to align with the area's health sciences businesses along the Interstate 70 corridor. The park will be anchored by the university's Mizzou Innovation Center, which will house research, continuing education and community outreach functions, as well as administration offices. The center will initially be about 10,000 square feet but will grow to 60,000 square feet, and will eventually include several buildings. "We are looking at this as an economic opportunity to provide a long-term strategy not only for the city, but also the surrounding community," says a city spokeswoman. "We expect the park will enhance educational opportunities and add high-quality jobs, and eventually grow rooftops and add retail and other development." The population of Blue Springs is about 55,000 people.

The venture has put out a request for proposals for a master developer for the property, with responses due by Jan. 9. Then, the venture will be start Feb. 2 on planning, to take a four-to-six month period. After planning, the first phase of development should take up to two years, to include the Mizzou Center, which will then be leased by the university. The spokeswoman tells GlobeSt.com that the golf course will remain and stay public, though a Memorandum of Understanding between the parties indicates an agreement to eventually turn the course over to private development, if there is demand.

Financing is going to be through public and private investments, through a combination of public TIF and other economic development-based financing, private financing arranged by the developer and other funding sources. It's also anticipated that special legislation, such as the redirection of state income tax on park employees or on state sales tax on nearby retail centers, could also be explored, according to city documents.

The park will be fronted by the new Adams Dairy Landing retail center. The RED Development project, a new center totaling 630,000 square feet, will have anchors such as Target and Lowe's opening in the fall of 2009.