LIVE City Council Meeting - February 17, 2026

The City Council meeting of Cape Girardeau, Missouri, held on February 17, 2026, focused primarily on the redevelopment of the long-vacant Sears Grand building. The council discussed a major private investment project involving approximately 142,000 square feet of redevelopment space and 20.25 acres, with an estimated private investment of $23 to $27 million. The developers requested city incentives totaling about $11 million, including a Chapter 353 tax incentive and a sales tax exemption on construction materials, structured through a Community Improvement District (CID) that would impose a 1% tax on tenants to reimburse redevelopment costs. The council was briefed on the project's benefits, including increased sales tax revenue and job creation, and the incentive structure was clarified as not impacting existing city revenues. Additionally, the council received a presentation on the city's annual audit for fiscal year ending June 30, 2025, which reported a clean audit with no instances of non-compliance or deficiencies in internal controls. Other agenda items included approval of rezoning and subdivision plats, acceptance of a utility easement, and a memorandum of understanding for a joint emergency operations center. The meeting concluded with a community update on the River Campus Board of Managers and adjournment.