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October 22, 2014, 7:39 pm
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City To Vote on Intent to Purchase Downtown Property


The City of Springfield is closer to purchasing some vacant land in the downtown area with an ordinance on the consent agenda.

 

Mayor Mike Houston calls the land at the corner of 4th and Capitol prime downtown real estate and says the $1.5 million asking price from the state is lower than he expected.

 

But the cost of the property could go up after the purchase if the city wants to demolish some buildings.

 

Houston says that could cost up to $450,000.

 

Houston says once the city has purchased the property, they would open up the process for developer proposals.

 

The money for the purchase would come from the soon-to-expire Downtown TIF.

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