Business Report: Kmart Property Update; CWLP Sees Rise In Solar Power; New Use For Old Church

Dec 13, 2016

Credit CWLP

Sean Crawford talks with Tim Landis, Business Editor for the State Journal-Register.

* Solar surge: CWLP on pace for record solar installations this year, including a $1.8M project at engineering-design firm Crawford, Murphy & Tilly (nearly 3,700 rooftop and carport top panels); system costs coming down; federal tax credits, selling excess power to the grid all factors.

* Methodist Church: The Springfield Project community-development group and chamber plan $8.5 million renovation, including 25 apartments, chamber and Springfield Project office space; planning to use combination of $985,000 in TIF money; federal tax credits and $4.4 million borrowing; church has been empty since 2008.

* Executive Mansion: Preliminary work has begun on $16 million project; tours end Jan. 1, but the Rauner's are expected to stay until the bulk of the work begins, probably by March.

* Kmart: The store at Wabash and Veterans has closed; two new standalone retail buildings planned; also renovating and adding to the Kmart space.