Downtown redevelopment bill to be signed in Springfield

Jul 02, 2003

On Monday (July 7), a bill designed to stimulate economic development in historic downtowns will be signed into law by Gov. Bob Holden in a noon ceremony at the Discovery Center of Springfield, 438 E. St. Louis St.

In May, the Missouri General Assembly passed the Missouri Downtown and Rural Economic Stimulus Act (MODESA), which will allow major developments to capture a portion of state taxes to be redirected to the construction of public facilities and infrastructure. It is also designed to be more responsive to developer timing than current redevelopment programs.

Passage of MODESA was a priority of the Springfield Area Chamber of Commerce and the City of Springfield.

news_03_07_02 - Discovery Center

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