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Home My WebLink AboutItem 04- Staff Response- Developer Support from SEDAAGENDA ITEM SUMMARY Meeting Date: 2/12/2024 Meeting Type: Regular Meeting Department: CMO Staff Contact: Allie Camp S P R I N G F I E L D ECONOMIC Staff Phone No: 541-726-3688 DEVELOPMENT AGENCY Estimated Time: 10 Minutes ITEM TITLE: STAFF RESPONSE TO CHAIR REQUEST- DEVELOPER SUPPORT FROM SEDA ACTION REQUESTED: No action requested, for information only. ISSUE STATEMENT: During the November 13, 2023 meeting, the SEDA Board Chair requested a report of financial support that SEDA has provided to projects since July of 2013. ATTACHMENTS: 1. Board Briefing Memorandum 2. Investment maps of Glenwood and Downtown DISCUSSION/ FINANCIAL IMPACT: In response to the Springfield Economic Development Agency (SEDA) Chair’s request, the Board Briefing Memorandum (ATT 1) includes details on SEDA dollars that have been utilized to assist projects in the Downtown or Glenwood Urban Renewal Areas. Staff conducted a review of past expenditures, contracts, agreements, building permits, meeting minutes, and discussions with key staff, where applicable, to compile this list. This data request includes the SEDA SDC Program expenses, grants, loans, and investments on behalf of a project for infrastructure, business support, or property acquisition. This report only includes items that were funded with SEDA dollars. Data collected for this list does not include investments made with City funds, Enterprise Zone tax exemptions, assigned tasks with costs within exclusive negotiating agreements, or support that was offered but not utilized by the development team. Additional discussion is provided in the Board Briefing Memorandum. M E M O R A N D U M Springfield Economic Development Agency Date: 2/12/2024 To: Nancy Newton BOARD From: Allie Camp, Economic Development Manager BRIEFING Subject: Staff Response to Chair Request- Developer Support from SEDA MEMORANDUM ISSUE: During the November 13, 2023 meeting, the SEDA Board Chair requested a report of financial support that SEDA has provided to projects since July of 2013. BACKGROUND: The chart below outlines SEDA-funded support for projects dating back to 2008. Minimal project support information was found for work prior to July 2013 (FY 2014); three projects prior to the defined time frame have been included to provide a more complete narrative of exchanges. Reading the Data • Downtown Urban Renewal support is shaded in green, Glenwood in blue. The maps for each area use the same color system (ATT 2). • Projects are numbered in the far-left column. This number is used to label their location on the map. • Projects are ordered by year. The lower the number, the earlier the investment; the higher the number the more recent the investment. The year is assigned by when SEDA approved dollars, when contracts and agreements were signed, or in the case of the SDC program, when fees were assigned at permit issuance. • Projects are defined by project site address. This address is typically what was submitted as part of a building permit or a project description, however some projects stretch across multiple tax lots. For simplicity, one address was used to indicate the location. Properties being purchased or sold is labeled with the appropriate multiple addresses or tax lots. • Recipients of SDC payments were identified by using the property owner indicated on the building permit applications. Recipients for other avenues of support were identified through invoices, project history, meeting minutes, or agreements for purchase, sale, lending, or grants. • SEDA SDC support does not include a description of use because it is standard across each project. This support is SEDA paying the system development charges for the City- managed stormwater, wastewater, and transportation systems applied at the time of permit issuance for new developments and tenant improvements within the Urban Renewal Districts. Attachment 1 Page 1 of 4 MEMORANDUM 2/8/20242/6/2024 Page 2 Date Project Location Support Type Recipient Amount Support Description 1 2008 505 Main Street Grant St. Vincent de Paul $30,000 Royal Building interior finishes 2 2008 402 Main Street Grant A3 $20,000 Main Street window installation 3 2014 3005 Franklin Boulevard SDC Payment DHRU LLC $338,483.96 4 2015 418 A Street SDC Payment Neighborhood Economic Development Corp $1,602.69 5 2015 418 A Street SDC Payment Neighborhood Economic Development Corp $686.87 6 2016 307.5 Main Street SDC Payment Thirdmain LLC $7,033.49 7 2016 3003 Franklin Boulevard SDC Payment JM Hotel LLC $402,861.22 8 2017 3111 Franklin Boulevard Covered expense Alpesh Patel, $49,664.60 Power line removal 9 2017 1072 Main Street SDC Payment Springfield Church of the Brethren via St Vincent de Paul $89,272.32 10 2017 1291 S. A Street SDC Payment Parr Lumber Company $158,864.13 11 2018 2000 Nugget Way SDC Payment United States Bakery $29,363.45 12 2018 338 Main Street SDC Payment Masaka Properties LLC $29,891.09 13 2018 160 S 14th Street SDC Payment WJS Partners LP $45,648.20 14 2018 330 Main Street SDC Payment Masaka Properties LLC $22,741.74 15 2018 303 Main Street SDC Payment Thirdmain LLC $9,292.48 16 2018 418 A Street SDC Payment LTE-418 A SPFLD LLC $2,511.48 17 2018 345 Main Street #1 SDC Payment Masaka Properties LLC $753.44 18 2018 418 A Street SDC Payment LTE-418 A SPFLD LLC $2,008.99 19 2018 4000 E. 22nd Avenue SDC Payment Miranda Alberto $25,006.52 20 2018 418 A Street SDC Payment LTE-418 A SPFLD LLC $1,297.00 21 2018 521 Main Street SDC Payment Brelia LLC $1,037.00 22 2018 420 Main Street SDC Payment PKRK LLC $22,943.60 23 2018 338 Main Street SDC Payment Masaka Properties LLC $17,130.24 24 2019 111 Main Street SDC Payment Slonecker Investments LLC $778.30 25 2019 418 A Street SDC Payment LTE-418 A SPFLD LLC $18,476 26 2019 338 Main Street SDC Payment Masaka Properties LLC $1,816.04 27 2019 330 Main Street #A SDC Payment Masaka Properties LLC $3,891.51 Attachment 1 Page 2 of 4 MEMORANDUM 2/8/20242/6/2024 Page 3 28 2019 111 Main Street SDC Payment Slonecker Investments LLC $2,594.34 29 2019 840 A Street SDC Payment Cleveland Properties LLC $9,050.87 30 2019 3111 Franklin Boulevard SDC Payment Alko 501 LLC $414,110.35 31 2019 1444 Main Street SDC Payment Scooter 97 LLC $1,603.29 32 2019 521 Main Street SDC Payment Brelia LLC $1,336.07 33 2019 349 Main Street SDC Payment Masaka Properties LLC $3,473.79 34 2019 414 Main Street Grant Nessco Investment Co 50,000 Facade and building improvements 35 2019 111 Main Street Loan Swallowtail Spirits $125,000 3.6% interest, interest only payments for first three years, 10 year loan. 36 2019 4258 Franklin Boulevard Loan Ramsey-Waite Co, Inc./ Karotko, LLC $200,000 Funds provided through sale agreement for business relocation support 37 2020 5000 Franklin Boulevard SDC Payment Wildish Industrial Dev Corp $89,049.28 38 2020 702 and 740 A Street Grant The Motors, LLC $50,000 Redevelopment study for three tax lots 39 2020 702 and 740 A Street Grant The Motors, LLC $10,000 Phase II environmental 40 2021 740 A Street Loan Blue McKenzie LLC $200,000 Predevelopment loan 41 2021 740 A Street Loan Blue McKenzie LLC $1,800,000 Predevelopment loan 42 2021 226, 228, 230, 236, 240 Main Street Acquisition of property $790,000 Land acquisition Downtown development by Masaka Properties LLC 43 2021 3028 Judkins Road SDC Payment DND Land Company LLC $801.64 44 2021 4748 Franklin Boulevard SDC Payment Adams Land and Properties LLC $3,065.20 45 2021 656 A Street SDC Payment Canterberry James $4,008.22 46 2022 444 B Street SDC Payment Red Viking Holdings LLC $5,721.53 47 2022 215 Main Street SDC Payment 215 Main Street LLC $7,083.80 48 2022 448 Main Street SDC Payment Masaka Properties LLC $71,740.29 49 2022 226, 228, 230 Main Street Resale of property Smithworks Properties LLC $365,000 50 2022 150 4th Street SDC Payment Planktown LLC $3,718.94 51 2023 715 Main Street SDC Payment MDS Development Group LLC $5,674.58 52 2023 112 Main Street SDC Payment Dahlquist Norm $9,559.34 Attachment 1 Page 3 of 4 MEMORANDUM 2/8/20242/6/2024 Page 4 53 2023 448 Main Street SDC Payment Masaka Properties LLC $3,583.94 RECOMMENDED ACTION: No action requested, for information only. 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