Mayor Misty Buscher said Tuesday her banking background is behind a solution to get Dominic Watson’s CAP 1908 non-profit $500,000 in tax increment finance dollars – and, the city council hopes, minimize risk. That’s after Watson (pictured) and his lawyer asked that, in a break with current practice, he either get the funds up front or placed in escrow – as opposed to the money being subject to reimbursement after Watson’s group buys a property in the area of Eleventh Street and South Grand Avenue. And after Ald. Jennifer Notariano championed the break in policy:

“If you agree that the city of Springfield should use TIF dollars for them to buy this building, and if you agree that the city of Springfield should use TIF dollars for their architectural and engineering fees, then there is no reason you should not support this amendment to allow them to save some money in getting a gap loan.”

Some council members opposed the singular treatment of Watson, saying other developers had burned the city in the past. Buscher said the city would instead wire money to the title company involved and spare Watson from getting the gap loan.