2004 Section 108 Project Summary - Missouri

Jordan Valley Park
BORROWER: SPRINGFIELD
STATE: MO
COMMITMENT AMOUNT: $8,085,000
Springfield will use Section 108 guaranteed loan funds, in conjunction with its $1,200,000 Brownfields Economic Development Initiative (BEDI) grant, to make loans to private developers to finance the redevelopment activities on two Brownfields sites, the Oberman Manufacturing Building and the former Universal Paint property (to be known as Jordan Valley Park). The redevelopment will include office, retail, restaurants and housing. Between the two buildings, there will be a total 94,800 square feet of which 37,000 will be affordable residential rental units. The project will create approximately 207 jobs that will be held by or made available to low- and moderate-income persons and approximately 30 housing units that will occupied primarily by low- and moderate-income persons.