Wednesday, November 15 | Submitted by
Gov. Matt Blunt announced Monday that state remediation tax credits of $289,726 have been approved to renovate the Kresge building on Park Central Square. The 26,000-square-foot building is slated to become the home of a new library branch for the Springfield-Greene County Library. The mixed-use project will also house a coffee and sandwich shop and seven residential units on the second floor. Built in 1884, the Kresge building has been vacant for more than a decade. The tax credits will be used to remediate the clean-up costs of asbestos and lead-based paint. The $2.5 million renovation project is expected to create about 51 new jobs, said a news release from the Missouri Department of Economic Development, which approved the Brownsfield Redevelopment Program tax credits. The department approved the Brownfield Redevelopment Program remediation tax credits for the downtown Springfield property.