Cape council selects design-build team for Capaha Field project, approves TIF for Esquire Theater redevelopment

The Cape Girardeau City Council selected a design-build team Monday to improve Capaha Field and approved tax-increment financing to aid in redevelopment of the vacant Esquire Theater.

The council authorized the city manager to negotiate a design-build contract with the team of Penzel Construction Co. and Gray Design Group.

Proposed improvements include perimeter fencing, new sports lighting and an �upgraded fan experience,� parks and recreation director Julia Jones said in a written report to the council.

City officials have mentioned a variety of possible improvements, including chair-back seats in the grandstand.

After the meeting, Jones said current plans call for seating for about 600 people. But she said the goal is to provide a �fan experience� area that will allow fans to move around in the facility during the game.

�Seating is not as important as fan experience,� she said. �It is not just about the game.�

The city and Cape Catfish, a new wood bat collegiate team that will begin play next summer, plan to spend a combined $1 million to $1.5 million on improvements, Jones said.

A guaranteed maximum price will be negotiated with the design-build team, she said.

Penzel Construction and Gray Design Group were among five design-build teams that submitted proposals to the city.

Jones said the Penzel/Gray team was chosen because of its experience with such design-build projects, including Cape Girardeau�s SportsPlex.

The Capaha Field project faces a tight time frame because the project must be completed before the Southeast Missouri State University Redhawks baseball team begins play in February, she said.

Once all the plans are finalized, they will be shown to the council, the parks director said.

The vacant Esquire Theater, 824 Broadway, is seen May 24 in Cape Girardeau.Southeast Missourian file

As for the Esquire Theater project, the council approved tax-increment financing (TIF) of $870,000 plus interest on an estimated $2.65 million project to redevelop the vacant movie theater at 824 Broadway for use as a concert and event venue.

While most of the project will be funded privately, it would not be feasible without TIF money, according to a cost-benefit analysis.

A TIF, as spelled out in state law, allows a developer to receive the increment gained in property taxes between the current value and improved valued, and 50 percent of the sales tax revenue generated above the base year level for up to 23 years.

City officials said the project will not only renovate an old, deteriorated building but also increase property and sales tax revenue.

Financial figures provided to the city by the developer estimate the venue annually could cost more than $1.39 million to operate and generate income of $1.6 million, resulting in a net profit of more than $222,000.

Mayor Bob Fox praised the developer and plans for the redevelopment project. Without such a project, the building likely would have been torn down for a parking lot, Fox said.

Ward 4 Councilman Robbie Guard said, �I am very excited about this.�

mbliss@semissourian.com

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