Developers remain keen despite delay
By JODIE JACKSON JR. of the Tribune’s staff
Published Sunday, October 12, 2008
The "paperwork stage" of a proposed $45 million development at the junction of Highway 22 and Highway 63 in Randolph County might soon give way to dirt work and the start of construction.
Clark City Attorney Patrick Cronan is preparing an annexation ordinance to bring Junction Development Group’s 440-acre parcel near the Boone County line into Clark city limits, about a mile north of the property. Officials hope to have the ordinance ready no later than January.
The ambitious development over the next several years is planned to feature a travel center/truck stop, paved race-car track, industrial and RV parks, a motocross dirt track, drag racing strip, small lake and a 7,500-seat coliseum/horse arena.
"Folks in this area are really wanting that travel center," said Robert Stone, one of the four Junction Development Group investors. "Nobody’s looking forward to getting this started more than we are."
The developers need annexation by Clark to qualify for tax increment financing (TIF) and a transportation development district (TDD), which would provide funding and tax incentives.
"We need to have everything in place before we turn dirt," said Dave Babel, a Columbia real estate broker who is part of the development group with Stone, Carl Edwards Sr. and Curtis Hardin. "We need to have everything lined up properly or we’re shooting ourselves in the foot."
Nearly a year has passed since the group announced plans for the development. The initial plan was to break ground in May for the travel center near the former Collier Junction service station and have the center open by now.
"We’ve been fine-tuning the project," Babel said. "It set us back about a year."
Junction Development approached the Randolph County Commission early last year to discuss formation of a TIF commission and a redevelopment organization. The group began talking to Clark city officials in mid-summer, proposing annexation and the benefits that a sales tax from the development’s revenues could generate for the community of about 200 residents.
Randolph County commissioners support the project. "We’re all behind it," said Presiding Commissioner Susan Carter. "We think it’s an excellent development."
Hardin, the group’s accountant, said there have been numerous "letters of intent" for retail space as well as for the industrial park planned for the development. The group will host several invitation-only equity drives, starting this week.
"We’re just inching our way forward," Hardin said.
Most of the acreage for the proposed development is covered with corn fields, but that could be changing soon. Babel remembers turning a distressed area in Fulton into a bustling section of commerce that now boasts a Sutherlands home improvement center, the Callaway County Senior Center, an eight-screen cinema and a 16-lane bowling alley, Big O Tires, C&R Supermarket and other businesses. The area now is known as Fulton Commons. He remembers doubters wondering whether that project would ever materialize.
When it came to pass, the Fulton development was recognized by the governor as an outstanding redevelopment project.
"We think we have a good plan, like we had in Fulton," Babel said. "We’ve really had great reception from the people we’ve talked to."
Stone said the project should generate about 125 jobs, not counting those needed in the industrial park.
Once a TIF commission and TDD are in place, work can begin on the travel center and infrastructure - water, sewer, roads and drainage. Babel said it’s possible the travel center will open by the end of next year, but the first step is getting annexed by Clark. "We’re obviously not afraid of challenges," he said.
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