City officials plan for further development of Greater Cape Girardeau Business Park

It's been a decade since the city of Cape Girardeau purchased a 250-acre plot by the intersection of LaSalle Avenue and Interstate 55, now known as Greater Cape Girardeau Business Park, in order to help attract more jobs to the area.

Now, the city is looking at grants in order to get 20 of the remaining 60 to 70 acres of the park "shovel ready" for a potential businesses to establish operations.

Molly Mehner, deputy city manager, said the next focus for developments will be the stretch of the park along I-55 just north of current tenants Si03 and Pepsi because that stretch is likely the most appealing due to interstate visibility.

The process of getting the acreage "shovel ready" includes extending roads and establishing utilities in the area, making sure businesses can come in and begin construction immediately. Mehner said the city also has to contend with substantial natural obstacles to get that area of the park ready.

"We would need to do a significant amount of grading to balance the site," Mehner said.

There are also creeks and lakes to contend with in the park as well. Making the remaining spaces ready would cost an estimated $4 to $5 million. Mehner said that's why they have decided, for now, to narrowly focus to the 20-acre stretch, which would cost $2.2 to $2.5 million to prepare.

The city currently has $1.2 million of casino revenue allocated to the site.

"That's not nearly enough," Kenneth Haskin, city manager, said at the City Council workshop Wednesday.

The city is planning to leverage grant money in order to get the amount of funding needed to make the development. Officials applied for a U.S. Economic Development Administration grant six months ago, but have not heard back. The city manager said at the workshop the lack of response likely means the city will need to turn to other avenues to find funding.

Mehner said the EDA told the city up front when applying for the grant that the business park may not fit what the government administration was looking for.

"They're (EDA) typically looking for something that's a little bit more ready to go if you will," Mehner said.

The city should get word by September whether it has been awarded the EDA grant. Officials are prepared to apply for an existing state grant in the case that they lose out on money from the EDA.

Mehner said city officials have been told by national site selectors that they would be able to fill the slots when the park is developed, that it is an attractive location. However, the lack of current development on acreage has pushed some prospective businesses to other options.

"They're (prospective businesses) like 'a lot of stuff has to be done,' and then they go down to Sikeston [Missouri] and see a flat, shovel-ready site. The decision is pretty much made," Mehner said.

Once the site is made "shovel ready," the deputy city manager said she believes the city's ability to control the price of land and negotiate with businesses will make it easy for the site to be filled.