Columbia Business Times - June 2014

June 2014

The Coolest Offices in Columbia Page 38

Section 8: Explained Page 56

High-Priced HotSpots Page 48

Data Centers Moving in or moving on?

Page 62

A History of Housing Page 52

➺ Jennifer Bukowsky sits in her downtown law firm, one of the city’s coolest offices

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12 \\\ June 2014

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WE’RE COUNTING DOWN THE DAYS...

Charlie says:

MOVING

SALE

BUY IT BEFORE WE BREAK IT! The more you BUY... the more you SAVE!

We’re m ovin Our new g SOON! address 1501 Old : Hwy. 63 South

1 2345

1st item 10% OFF

2nd item 20% OFF

3rd item 30% OFF

4th item 40% OFF

5th item 50% OFF

Sale valid from June 9th through June 14th or until we move!

6th item purchased starts the sequence over at 10% off the 6th item, 20% off 7th item, etc.

Jewelry | Antiques | Accessories | Bridal Registry 573-442-3151 | 32 S. Providence Road, Just South of Broadway

www.McAdamsLtd.com 14 \\\ June 2014

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Our

COMPETITIVE ADVANTAGE

is Our People

CARL CASSMEYER IS THE PLANT MANAGER AT MIDWEST BLOCK AND BRICK AND HAS BEEN WITH THE COMPANY SINCE 1984.

COME SEE OUR SHOWROOM! (573) 445-9484 | 3115 PARIS RD, | COLUMBIA, MO 65202 WWW.MIDWESTBLOCK.COM | FACEBOOK.COM/MIDWESTBLOCK 16 \\\ June 2014

From the Publisher

Editorial Chris Harrison, Group Publisher ChrisH@BusinessTimesCompany.com Sarah Redohl, Managing Editor SarahR@BusinessTimesCompany.com Katrina Tauchen, Copy Editor Katrina@BusinessTimesCompany.com

Hammer it out ›

Columbia always seems to hammer it out. Since I can remember, friends, colleagues and the business community in general have described Columbia’s economy as recession proof. Maybe not recession proof, but recession resilient. We are fortunate that the health care, education and insurance sectors have consistently kept our economic engine humming at an acceptable level. These industry sectors stabilize our local unemployment rate and continue to ensure the residents of Columbia remain above the national average in education level and household income. However, several years ago, amidst the national economic crisis, we learned that we are not immune to economic downturn.

Following the national trend in real estate, Columbia experienced an overbuilt residential market, a glut of commercial Photo by real estate, the bankruptcy of some of CoTaylor Allen lumbia’s top developers and builders and falling home prices. But, alas, our community and business leaders weathered the storm. We managed to attract businesses such as IBM, expand the MU Health Care footprint and saw the development of student housing downtown.

The June issue focus is build it, buy it, rent it. This month, the CBT takes an in-depth look at all facets of real estate from Section 8 housing to Columbia’s most expensive undeveloped commercial property. We also identify some of the most notable residential developments over the past several decades in an attempt to educate you on the topic. The fact is builders are busy, commercial property is on the rebound and home prices are back to reasonable levels.

As always, we hope you enjoy this issue as much as we enjoyed putting it together for you. We love feedback, good and bad, so don’t hesitate to email me any time at chrish@businesstimescompany.com.

Best,

June 2014

THE COOLEST OFFICES IN COLUMBIA PAGE 38

Section 8: Explained PAGE 56

HIGH-PRICED HOTSPOTS PAGE 48

Data Centers Moving in or moving on?

PAGE 62

A HISTORY OF HOUSING PAGE 52

Creative Services Gillian Tracey, Creative Marketing Assistant Gillian@BusinessTimesCompany.com Whitney Buckner, Creative Marketing Assistant Whitney@BusinessTimesCompany.com MARKETING REPRESENTATIVES Angie Huhman, Marketing Consultant Angie@BusinessTimesCompany.com Jermaine Rivera, Marketing Consultant Jermaine@BusinessTimesCompany.com Melissa Reaves, Marketing Consultant Melissa@BusinessTimesCompany.com CONTRIBUTING PHOTOGRAPHERS Taylor Allen, Casey Buckman, Whitney Buckner, Anthony Jinson, Kendra Johnson, Sarah Redohl CONTRIBUTING WRITERS Madison Alcedo, Steven Benna, Claire Boston, Debbie Cutler, Al Germond, Monica Pitts, Sarah Redohl, Torie Ross, Bondi Wood Interns Madison Alcedo, Steven Benna, Claire Boston, Abby Connolly, Kaylie Denenberg, Kendra Johnson, Torie Ross MANAGEMENT Chris Harrison, General Manager ChrisH@BusinessTimesCompany.com Renea Sapp, Vice President of Finance ReneaS@BusinessTimesCompany.com Erica Pefferman, Vice President of Operations Erica@BusinessTimesCompany.com Cindy Pudney, Operations Manager CindyS@BusinessTimesCompany.com SUBSCRIPTIONS Subscription rate is $19.95 for 12 issues for 1 year or $34.95 for 24 issues for 2 years.

To place an order or to inform us of an address change, log on to ColumbiaBusinessTimes.com.

The Columbia Business Times is published every month

by The Business Times Co., 2001 Corporate Place, Suite 100, Columbia, MO 65202.

Copyright The Business Times Co., 2008.

All rights reserved. Reproduction or use of any editorial or graphic content without the express written permission of the publisher is prohibited.

Chris Harrison, Group Publisher Jennifer Bukowsky sits on the red couch in her highly personalized office at the Bukowsky Law Firm in downtown Columbia.

See more of Bukowsky’s custom-made space as well as three more of the city’s coolest offices on page 38.

Photo by Anthony Jinson.

DESIGN Kristin Branscom, Art Director Kristin@BusinessTimesCompany.com

➺ Jennifer Bukowsky sits in her downtown law firm, one of the city’s coolest offices

OUR MISSION STATEMENT The Columbia Business Times and ColumbiaBusinessTimes.com strives to be Columbia’s leading source for timely and comprehensive news coverage of the local business community. This publication is dedicated to being the most relevant and useful vehicle for the exchange of information and ideas among Columbia’s business professionals.

columbiabusinesstimes.com /// 17

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About The Last Times What people are saying ›› Dear Editor, I read with interest your well-written article on VIP treatment in the April 2014 issue because I was one of those patients who received a letter telling me that to be one of the 600 patients my doctor was keeping, I would have to pay $1,650 annually. If I did not sign up, I could not see him after June 30, 2014 — three months to find another provider.

What surprises me is the one-sided slant you took extolling the virtues of the program for the doctors and the 600 patients who pay the $1,650 without talking about the hardship on the other patients.

The math for 600 patients times $1,650 equals $990,000 ( just shy of $1 million). I do not know the revenue-sharing ratio between

Online extras the doctor and MDVIP, but for the sake of argument, let’s assume the doctor keeps half, which equates to almost a half million dollars, and he or she still receives insurance payments. Doctors must make a fair wage, but that seems a little high for doing less with fewer patients. My doctor currently has 3,200 patients, which equates to 2,600 of his patients having three months to find another doctor. With three Columbia doctors joining MDVIP, there could be more than 6,000 patients having to find new doctors. This is definitely a hardship for some because they are on fixed incomes, use Medicare, etc. Less patient load could also mean loss of jobs for some of these doctors’ staffs.

Raymond L. Ruetsch

Don’t miss this issue’s online extras. We’re taking you on a tour of Columbia’s coolest offices, MTV Cribs style.

Logboat

Around the office

What's happening online Jim C @just1writer Apr 30 Working on the 80's issue of @ColumbiaBiz was like working on my high school yearbook. Check out the new (old) issue! #throwback

A big thanks to everyone who came out for our May launch party May 1 at The Roof atop The Broadway!

Machens Dealerships @JoeMachens Apr 29 Read a little JM Dealerships history in the '80s themed web extra article "The Auto King" from @columbiabiz http://bit.ly/1rK5BYe #CoMo

MayeCreate Design @MayeCreate Apr 28 Monica read our @ColumbiaBiz Throwback 1985 Edition ad to the kids.

They were REALLY EXCITED ABOUT IT!!!!

Jeff Branscom @jeffreyowen8 Diggin @ColumbiaBiz's 80s throwback cover! #TotallyRad

Apr 30

Corrections Visionworks Marketing Group What a fun issue of the Columbia Business Times! Pick up your copy today! I mean, who could resist Richard King in those glasses?

Write to CBT editor Sarah Redohl at Editor@BusinessTimesCompany.com

• Page 49 of our May issue stated that Don Ruthenburg retired in 1985, but the former Columbia College president retired in 1995.

• Also in that issue, on page 62 we listed that Columbia had seven carriers and 20 daily flights in 1988. According to the 1988 REDI Community Profile, this number also included freight services. columbiabusinesstimes.com /// 19

20 \\\ June 2014

June 2014

Vol. 20, Issue 12 columbiabusinesstimes.com

Departments

17 From the Publisher 19 Letters to the Editor 23 Movers and Shakers 24 Briefly in the News 27 A Closer Look 28 Business Update 35 P.Y.S.K. 37 Opinion 68 Going up 70 Nonprofit Spotlight 73 Technology 75 Celebrations 76 Deeds of Trust 77 Economic Index 78 Business Licenses 79 By the Numbers 80 6 Questions 82 Flashback

38 Columbia’s Coolest Offices

Using innovative design and creative spins on the traditional work environment, four local offices show us what it means to work hard and love where you’re doing it.

48

52

56

62

The Big Seven

Housing History

Section 8: Explained

The Short List

Downtown Columbia is growing fast, but with their permissive C-2 zoning and covetable locations driving up prices, these lots will cost you a pretty penny. Check out Columbia’s priciest pieces of undeveloped real estate.

Within the past few years, southwest Columbia has become a maze of manicured lawns and neat single-family homes. Take a look at some of the city’s most popular housing developments and how they might affect Columbia’s future.

Misconceptions persist regarding Section 8 (more specifically the Housing Choice Voucher Program), but its purpose remains the same as it has for decades: to provide affordable housing for those who need it.

Ewing Industrial Park and Sutter Industrial Park are on the short list of two companies looking to build new data centers, but there’s more at play than a cozy location on the northeast side of town.

FREE LUNCH FRIDAYS! Room 38 is giving away one free lunch every Friday!

Plus, all entries will be entered in monthly drawings to win up to $100 worth of free lunch catered to your office or in our private dining room. To enter, give us your business card when you come in for lunch on Fridays, and double your chances when you take a photo of your lunch, tag Room 38 and post it on Facebook, Instagram or Twitter!

afternoon. afterwork. afterdark.

38 North 8th Street | 573.449.3838 | www.room-38.com

22 \\\ June 2014

Movers and Shakers ›› Professionals grow, serve and achieve

Gooch

Alexander

›› Boone County National Bank Boone County National Bank promoted Raven Martin, Josh Adams, Karisa Helton and Jared Woods to teller II; Patrick Payton, Shea Martin and Emily French to consumer banking representative; Julie Arnett, Patrick Madigan and C.O. Scheffer to vice president; Nick Kenny and Lucas Redburn to officers in the investor services department; and Patrick Payton and Bonnie Ngo to senior teller. Additionally, Rick Means of Shelter Insurance has joined the BCNB board, and Ed Scavone has been promoted to executive vice president. The lending department gained two officers in Columbia, Ed Harre and Sarah Moreau. Jane Bacon and Layota Williams were promoted within the customer service center and Michael Antinoro and Karen Cornell to cash management specialist and compliance officer, respectively. ›› Columbia Public Schools Rock Bridge Elementary School and Hickman High School welcomed new principals. Dr. Jill Dunlap Brown will replace Mary Korth-Lloyd at Rock Bridge, and Eric Johnson will replace Tracey Conrad at Hickman. Additionally, Deputy Superintendent Nick Boren will retire June 30 after 29 years of service. ›› Columbia Area Career Center The Columbia Area Career Center has a new director next school year, as Linda Rawlings, the current director, announced her retirement for the end of the school year. Randall Gooch, the current assistant director at the center, will take over.

Lamb

Reeves

Schultz

›› Williams-Keepers Williams-Keepers LLC associates David Beach, Shelby Graham and Danielle Harper earned their CPA licenses. Also, Will McWilliams, a financial adviser for the company, was ranked 25th on WealthManagement.com’s list of Top Next Generation Independent Broker Dealer Advisers. ›› Landmark Bank Landmark Bank announced seven promotions.

The bank promoted Jay Alexander to senior vice president. Heather Clark has been promoted to vice president, security risk officer.

Leighanne Lamb has been promoted to vice president, real estate lender. Megan Schawo has become the vice president of wealth management. John Findley has become the assistant vice president and will continue his role as a commercial lender. Jill Thompson is the new assistant vice president at the Stadium West location. Robert Hill and Tyler Phillips have been promoted to banking officers. The bank also hired David Shipper to be Columbia’s debit card manager. ›› The Broadway The following positional changes have taken place at The Broadway. James Lee was named revenue sales manager, Natalie Imhoff was appointed director of sales and Nicole Schweinsberg was named catering sales manager. Additionally, Shelby Vermilye was selected as front office manager, Aric Jarvis was appointed assistant general manager and Bob McDonald was named general manager.

➜ Are you or your employees

making waves in the Columbia business community? Send us your news to Editor@BusinessTimesCompany.com

Parks

Nickerson

oswald

›› Randy Reeves Dean Mills, dean of the University of Missouri School of Journalism, announced that Reeves will replace Stacey Woelfel as news director at KOMU-TV. ›› Scott Schultz The Bank of Missouri in Columbia has announced the addition of Providence Urgent Care CEO Dr. Schultz as an advisory director for the Columbia market. ›› MBS Textbook Exchange MBS Textbook Exchange Inc. has announced the promotions of Caitlin Wanta, Kristina Leyden, Wayne Thoenen, Isaac Stroupe, Ralph Lee, Scott Bousquet, Adam Reed , Matt Redig, Sean Douglas and Johnathon Blevins. ›› Elizabeth J. Parks The MU Clinical Research Center has named Parks its new associate director. Parks has been with the MU School of Medicine since October of 2013. ›› Terry Nickerson Terry Nickerson from Taxi Terry was chosen as a winner of the Youth Empowerment Zone’s Black Men Rock award. The award recognizes black male entrepreneurs who make a difference in the community. It is the first year that YEZ has given out the award. ›› Tricia Oswald Oswald joined the MU Extension Business Development Program as fiscal manager. CBT columbiabusinesstimes.com /// 23

Briefly in the News

›› A rundown of this month’s top headlines

All natural Gunther’s All Natural, a small Columbia business specializing in lip balms, lotion bars and soaps, has expanded from its roots in craft shows and the Columbia Farmers Market into Lucky’s Market and Clover’s Natural Market.

Owner Erich Gunther Arvidson says the company, which is less than 1 year old, has been doing well so far. He hopes to expand the company’s reach in the future.

MFA OIL Columbia’s MFA Oil Co. recently acquired Alexander Propane, a formerly family-owned company based in Sullivan, Mo. Alexander Propane served propane customers in Crawford and Franklin counties. Its employees will now work for MFA Oil.

Market Place The Market Place, an antique mall on Business Loop 70, closed its doors March 31 after more than a decade in business. The mall’s 150 vendors were forced to move after the building owner signed a long-term lease with Ferguson Plumbing and Supply, a Virginia-based company that plans to use the space as a warehouse and distribution center.

15 years The Mud Room, Columbia’s paintyour-own-pottery and hands-on clay studio, recently celebrated 15 years in business. The studio, located at 1103 E. Walnut St., offers pottery and painting classes, specials and custom gifts.

Owner Courtney Hawk is looking to move the studio in the future.

Construction over the years has reduced the store’s visibility from the street.

Downtown hotel

Data mapping The Broadway Columbia, a DoubleTree by Hilton hotel, held its grand opening April 3.

The LEED-certified hotel has eight floors and 114 rooms.

It also houses its own restaurant, called ElevenEleven, and a rooftop bar. In addition to guest rooms, the hotel features 3,000 square feet of meeting space.

24 \\\ June 2014

The Columbia Daily Tribune recently launched Neighborhoods, a free website that aggregates all sorts of data about an area and presents the information in a map. The website tracks arrests, 911 Waters calls, police and fire activity, restaurant inspections, new business licenses, coupons, restaurant reviews, local Twitter posts, photos shared via social media, news and sports stories, local events and open houses.

“News is happening everywhere all the time,” says Andy Waters, the Tribune’s general manager.

What’s happening Tree University Despite his name, William Woods wasn’t known for his work with trees. But that hasn’t stopped William Woods University from being recognized as an Arbor Day Foundation Tree Campus USA for the fourth consecutive year.

Gold Certification University of Missouri Health Care’s patient care tower expansion to University Hospital received the U.S. Green Building Council’s Leadership in Energy and Environmental Design Gold Certification.

To get certified, hospital officials made sure the tower incorporated numerous environmentally friendly features. The tower boasts a rooftop garden, locally sourced construction materials, automatic lights and faucets and sunshades, among other features.

EDucation award MU has been expanding its online course offerings in recent years, and the University Professional and Continuing Education Association took note.

The association awarded MU the 2014 Strategic Innovation in Online Education Award in recognition of the university’s commitment to online education.

Online program availability has grown steadily for years at MU, and there are more than 90 degree and certificate options available wholly or partly online.

MU began reorganizing the offices responsible for distance education in 2010 and formally created the Mizzou Online office in 2011 as part of the Provost’s Office.

ranked eighth The MU School of Medicine’s family medicine program was ranked eighth in the nation

by U.S. News and World Report. It’s business as usual for the program, which has been top 10 Williamson for the past 21 years. MU ranked 29th for its primary care training program and 75th for research out of 153 schools.

“We are pleased to be recognized so consistently as a leader in family medicine education,” Harold Williamson Jr., executive vice chancellor for health affairs at the MU Health System, said in a statement.

Compass Flower Press Local publishing business AKAPublishing celebrated the launch of its new imprint, Compass Flower Press, on April 22.

The company’s newest imprint, or brand, was first introduced in late 2013. At the celebration, Compass Flower Press announced its first anthology, Uncertain Promise, which is set for publication in October 2014.

AKA-Publishing, which has successfully operated out of Columbia since 2008, has published more than 50 books, many by authors from Columbia and the surrounding areas.

BEST FOR vETS Columbia College’s business program was named to the Military Times’ Best for Vets: Business Schools 2014 list.

“This recognition speaks to the level of our commitment to individuals who have served and those currently serving in the armed forces, and we take pride in offering programs and policies that support their unique educational needs,” Mike Lederle, assistant dean for Military and Federal Programs, said in a statement. CBT

columbiabusinesstimes.com /// 25

26 \\\ June 2014

A Closer Look

New Businesses in

Columbia

›› A quick look at emerging companies

1. Gilbane Motorsports

3. Pita Pit

5. PeopleKit.co

Gilbane Motorsports offers motorcycle and scooter services, including repairs and towing in Columbia. The repair shop opened at 608 Nebraska Ave. in March, and it services all makes and models. Matt Gilbane, the owner of Gilbane Motorsports, has been servicing motorcycles professionally for about 10 years. He says motorcycles are his hobby, and he had to sell all of his own bikes to open the shop.

Contact: Matt Gilbane, 573-442-4403

As of Feb. 24, a healthier alternative to fast food opened in Columbia at 1105 Grindstone Parkway. Pita Pit offers pita-wrapped sandwiches, allowing health-conscious customers to limit carbohydrate, calorie and fat intake. Pita Pit was originally founded in Kingston, Ontario, Canada, in 1995. In 2005, Pita Pit USA was created by a group of franchisees and investors. Jack Riggs headed the expansion into the United States. There are now more than 300 Pita Pit locations throughout the U.S. and Canada.

Contact: Jeremy Bryson and Daniel Robar, 573-499-5099

PeopleKit.co is a subscription box service that delivers a kit of seven to 10 tools to team leaders to help them develop their team each quarter. The tools that come in the kit include simulations, strategy games, challenges and experiments, among others.

With these tools, the package is designed to save team leaders time while providing them with diverse tools. These tools are meant to create holistic growth, spark action-oriented development and offer support to all members of a team. The cost of a kit is $250 per shipment.

Contact: Emily Holdman, 573-445-0678

2. Logboat Brewing Co. Logboat Brewing Co. is a microbrewery production and taproom that opened in Columbia on April 29. The brewery is located at 504 Fay St. The idea sparked in the summer of 2010, and Logboat’s journey started with a road trip to Montana in 2011, where the three founders, Tyson Hunt, Judson Ball and Andrew Sharp, decided to pursue the brewery. The next three years were spent raising money, brewing beer, developing a business plan and finding a location. The products of the Logboat Brewing Co. include Snapper IPA, Shiphead Ginger Wheat, Lookout APA and Mamoot Mild Ale as well as a selection of seasonal brews.

Contact: Tyson Hunt, 573-397-6786

4. Evans and Dixon A fifth Evans and Dixon office has opened in Missouri, as the law firm opened a location in Columbia at 501 W. Cherry St., Suite 200. Evans and Dixon, which is headquartered in St. Louis, offers legal coverage in the areas of business law, civil litigation and workers’ compensation defense. The law firm hired three new attorneys with the expansion to Columbia.

The head attorney is Aimee Davenport.

Evans and Dixon was founded in 1945 by John Evans and John Dixon.

Contact: Aimee Davenport, 314-522-4144

6. ecoAquaria A home and business aquarium specialist has come to Columbia to make owning an aquarium as simple and effortless as possible. EcoAquaria, located at 2100 E. Broadway, Suite 129, offers a variety of services including aquarium installation, maintenance and rentals and livestock delivery and acclimation, and it also can perform a diagnosis of aquarium issues. Eco is derived from the Latin term “oeco,” meaning home, and it is used as a designation for a habitat or environment.

Aquaria is simply the plural of aquarium.

Contact: Jason Carlyle, 573-673-6565 CBT

3

6

4 2 1 5

➜ Are you an entrepreneur? Are you sprouting a new business? Tell us about it at Editor@BusinessTimesCompany.com columbiabusinesstimes.com /// 27

Caroline Leemis.

Photos by Anthony Jinson

28 \\\ June 2014

Business Update

›› Transformed, trending and up-to-the-minute

Form and Function

Caroline Leemis Design changes corporate office culture.

Flipping through before and after photos of the Schneider Electric cafeteria renovation in the company’s Columbia office, the two spaces are almost unrecognizable. Wood paneling left over from the 1980s has been replaced with pop art of some of Schneider’s products throughout the years; worn-down coffee pots are replaced with a state-of-the-art coffee bar; and a mix of family-style seating, individual work spaces and a collaboration room stand beside basic four-top cafeteria seating.

When Caroline Leemis opened Caroline Leemis Design in 2012, she knew commercial interior design was about more than just picking a color scheme and a few pieces of furniture. Leemis believes that interior design is one of the easiest ways for a company to communicate with its employees and with its clients. She also says that design can create a more efficient workspace. Innovative work areas, such as the new collaboration room in the Schneider Electric cafeteria, allow employees to problem solve and work together more succinctly, something Leemis says is essential to both employee productivity and happiness.

Leemis began work on the Schneider cafeteria renovation last fall. She says every design choice she and the executives at Schneider made had to have an explanation. “In residential design, choices are much more personal and geared toward the client’s preferences,” Leemis says.

“With a commercial client, you have to decide what best reflects the company and their values.”

Colors were chosen based on Schneider’s marketing, spaces were designated where impromptu meetings could take place and art was selected to provide a history of the company. “It creates an environment where it can produce energy,” says Lori Swiatek, plant operations manager at Schneider Electric. “When people are happy about the space they’re in, it lends itself to creativity.”

smart design

By Torie Ross

Leemis operates her business out of her home in Columbia.

A natural fit Leemis, whose father is a general contractor, grew up learning the basics of the construction industry and running a small business. In high school she fell in love with both the creative and technical side of the arts, and when she entered college, pursuing a degree in interior design at the University of Arkansas seemed like a natural choice. Interior design, which Leemis notes requires a broad knowledge of architecture, building codes and construction, allowed Leemis to blend her interests. “It was a happy medium for utilizing my creative talents as well as those more challenging technical skills,” she says.

After graduating from Arkansas in 2009, Caroline Leemis and her husband, Eric Leemis, moved

from Arkansas to Columbia. Finally, after years of searching for ways to utilize all her skills in one business, the Leemises opened Caroline Leemis Design in 2012. “I realized my skills could be put

“I’m the marketing director, the business administrator, the designer, in charge of business development and networking. You have to learn as much as you can as fast as you can.” — Caroline Leemis columbiabusinesstimes.com /// 29

to better use if I took control and moved forward from there on my own,” Caroline Leemis says.

As basically a one-woman show, Leemis jokes that she wears a lot of hats. “I’m the marketing director, the business administrator, the designer, in charge of business development and networking,” she says. “You have to learn as much as you can as fast as you can.” Although she is quick to listen to the expertise of her husband, who graduated with a business degree, and her father, who has owned his own small business for several years, Leemis says she wants to master as much of the business on her own as she can. The hope is that as the business grows and she is able to hire on more people, she can focus more on design but still have a firm understanding of the business aspects of her company.

Since starting Caroline Leemis Design two years ago, Leemis has already begun to build an impressive resume, including the renovation of Gumby’s Pizza in downtown Columbia, the Schneider Electric cafeteria renovation, a renova30 \\\ June 2014

tion of the reception area at True Media in St. Louis and several residential designs.

Principles of design A large part of Leemis’ work aesthetic has focused on functional, purposeful design. During her time in college and early in her career, Leemis learned how efficient design could lend itself to the health care industry. Hallways and nurses stations could be designed to alleviate the flow of traffic, colors and patterns could have an impact on the healing environment, and the overall physician-patient experience could be altered from the minute they walk in the door until the time they leave.

Similarly with corporate design, such as the cafeteria at Schneider Electric, the design should reflect the mission of the company. Leemis believes the largest benefit of a workspace design that is compatible with the goals of the company is the communication flow. Whether communicating with clients or employees, Lee-

mis notes that the design of a company’s interior spaces is essential to sending a singular, cohesive message portraying the priorities and beliefs of the company.

It is also important that Leemis fully understands the client’s needs. When first considering an office renovation, Schneider Electric issued a survey to its employees asking what improvements around the office they felt were needed most. Because most of the responses centered on a better break environment and having a collaboration space, Schneider as a company decided that any renovation efforts should be focused on the cafeteria area. Brad Piening, manufacturing engineering manager at Schneider Electric, emphasized that Leemis was essential in bringing the vision and ideas of the employees and management to life.

“You don’t realize how overwhelming all the little decisions are for a design, but Caroline helped us focus on what we needed and what was the best way to implement that,” Piening says.

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Working on her own has also made Leemis more practical. Although she admits to still relying heavily on contractor input for things such as pricing, Leemis says she’s learned to be innovative with what is available to her. In renovation projects especially, Leemis notes that it is essential to work with the architecture of the space and realize that it’s not always the most practical option to completely gut the entire area. Similarly with budgets, Leemis has learned that being flexible is the only option. “In school we didn’t really have to worry about money, so you could follow whatever design idea you had in your head,” Leemis says. “But when you’re working with a client, you need to have several different options that will best fit their budget.”

Looking forward With every new project that Caroline Leemis Design completes, Leemis says it opens up more opportunities for her in the future. Even though the company has gained some notable clients during the past two years, Leemis hopes her client list, and the scope of the projects she’s working on, will continue to grow.

“I hope to one day be able to design an entire office or maybe even an entire building,” Leemis says. In the meantime, Leemis and her team will continue to network, to perfect both business and design skills and create a more efficient corporate Columbia. CBT 32 \\\ June 2014

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Cleaning & Break Room Supplies Office Furniture • Office Supplies

columbiabusinesstimes.com /// 33

Meet Matt Hayes, owner of BrightStar Care of Mid-Missouri. BrightStar recently obtained an SBA loan from The Bank of Missouri to open a new healthcare agency that provides high quality services to families needing medical care for children, adults and elderly in the comfort of their own home.

An SBA loan from The Bank of Missouri is one of the best financing options for small and growing businesses. An SBA loan can help you finance an entire business, equipment and fixtures, business real estate and much more.

www.bankofmissouri.com/business-sba-loans

34 \\\ June 2014

Karin Bell Vice President, SBA Manager

Crystal Morris SBA Sr. Loan Admin. Asst.

Geoff Karr SBA Lender

P.Y.S.K. Person You Should Know

Jerome Rackers

Owner and operator, Lifestyles Furniture

›› Job description: I manage the staff, review and select (with staff) all floor stock, do the bookkeeping, plan and execute advertising and handle day-to-day operations.

›› Years lived in Columbia: 45. I was a Boone baby. ›› Education: B.S. in marketing from the University of Central Missouri

Age:

45

›› Community involvement: Scout leader, Eagle adviser and former committee chair with Troop 4 ›› Professional background: I began by selling cars at Legend Automotive following graduation in May 1991.

Then I left there to take a service and delivery job with Lifestyles. Within three months, I began as assistant manager and then a couple of months later, manager.

After three years as manager, my wife and I purchased Lifestyles in July 1995. ›› A favorite recent project: Transforming the lobby at Cumulus Radio stations. This was a great challenge because we were unable to change flooring and wall colors. It turned out great. I always like to make great transformations. ›› A Columbia businessperson I admire and why: I have a few: Kat Cunningham, who has such a great personality and always makes you feel welcome; and Dave Griggs, who is so involved in our community. ›› Why I’m passionate about my job: I enjoy talking with people; just ask my wife. I especially like helping clients find solutions to their home-furnishing needs. No two people need the same solution, and that makes my job different every day.

Photo by Whitney Buckner

➜ Accomplishment I’m proud of: I’m proud of taking Lifestyles to the next

level, purchasing the building at 63 E. Broadway and renovating it to create an environment for people to be inspired in when decorating their homes.

›› If I weren't doing this for a living, I would: I think I would enjoy being in construction management.

I have always loved building things. ›› Family: Cheryl, my wife, who teaches fifth grade at Paxton Keeley Elementary School; Emily, my daughter, who’s a freshman at the University of Missouri and studying journalism; and Cory, my son, who’s a junior at Hickman High School with a passion for art. CBT columbiabusinesstimes.com /// 35

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meets creativity.

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OUR EVENTS 20 Under 40 Women at Work Ones to Watch City’s Best (Jefferson City) 36 \\\ June 2014

E-NEWSLETTERS

Roundtable › Al Germond

point-of-view

Show-Me Where We’re Headed Three recent developments say a great deal about Missouri’s economic future and the direction this state is headed.

First, Toyota is moving its corporate headquarters from Torrance, California, to Plano, Texas, a suburb of Dallas. The reasons cited include lower taxes, more favorable labor conditions, Texas as a Al Germond is the “loser pay” state in tort law cases, plus a host of the Columbia sweet package of state-sponsored finanBusiness Times cial incentives. No one here seemed either Sunday Morning very surprised or especially disappointed Roundtable at 8:15

by Toyota’s announcement, even though a.m. Sundays on KFRU. Missouri has enjoyed a strong and healthy He can be reached at history with the auto industry. al@columbia business Missouri was not in the running because times.com. for decades other states have been doing a better job when it comes to economic development. Although it’s convenient to cite relatively high personal and corporate income taxes as well as Missouri’s refusal to climb aboard the open shop, right-to-work law bandwagon as reasons for sluggish economic growth here, there’s much more to the story than these simplistic “solutions.”

It began about 100 years ago when northeastern industrialists began moving their manufacturing plants into the Deep South, where land, labor and energy costs were somewhat lower. The fact that northern markets were typically less than a day away by rail was considered a trifling inconvenience. Industrialists and their financial partners in principal money centers from Chicago to Boston were more aware of the South and its advantages because it was proximate to places they visited or, in some cases, had second homes in ranging from Virginia to Florida.

Most Missourians seem contented as it is. Here in the “Keystone of America” by location, life is good. Someday, the Show-Me State will be discovered.

Missouri by comparison lost out — not really identified with anything in particular — an undefined place that was “out there” somewhere in the Great Plains where herds of buffalo still roamed. Missouri’s two principal metropolitan areas now rank in the second tier with significantly contracted airline service seeming to lag further and further behind Sunbelt boom towns that include Charlotte, Atlanta and the Dallas-Ft. Worth “Metroplex.” Reality check: The needle of economic growth would not move very much even if Missouri abolished all state and local taxes and

The 10-megawatt MU Research Reactor is the most powerful among dozens of research reactors located on U.S. university campuses.

took the draconian step to banish unions altogether. Most Missourians seem contented as it is. Here in the “Keystone of America” by location, life is good. Someday, the Show-Me State will be discovered.

While those who favor lowering state income taxes cheer, the recent override of the governor’s veto of a tax-relief measure passed by the Missouri Legislature could be a Pyrrhic one given flaws in the measure some typically conservative professional accounts have taken note of. Reduced income spurred by these cuts could end up seriously wounding public education, from local school districts to the University of Missouri. Purely speculative at this point: How will anticipated lower revenue from these cuts affect the state’s present and rather salutary bond rating by Moody’s and other rating agencies? A catch-22 could be in the offing as reduced revenue compels the state to raise taxes coming face to face with the Hancock Amendment and almost certain rejection of any levy increase on the ballot

by Missouri’s historically parsimonious electorate.

Finally, some really great news for the Columbia metropolitan area: Oregon-based Northwest Medical Isotopes recently unveiled plans to build a $50 million, 50,000-square-foot facility in the burgeoning Discovery Ridge area. Working with the university’s Research Reactor and Mallinkrodt Chemical Co. of St. Louis, NMI will produce a medical isotope called Molybdenum-90, which promises major advances in medical research, diagnosis and treatment. It’s an interesting redux to the university’s original research park on Providence Road when construction on the reactor was underway exactly 50 years ago. Discovery Ridge is more spacious and accessible with its own highway interchange — ABC Labs and Tolton High School are already there — and the rumor mill buzzes with imminent announcements of considerable interest and import. With the NMI announcement, this area’s economic future, and well-being, will be even more closely tied to MU and public-private partnerships with MU’s School of Veterinary Medicine, Trulaske College of Business, College of Engineering, College of Agriculture and others as well. CBT columbiabusinesstimes.com /// 37

Don’t miss this issue’s online extras.

We’re taking you on a tour of Columbia’s coolest offices, MTV Cribs style.

columbia's

coolest

offices

W h e r e g o o d d e s i g n g o e s a lo n g way

It’s estimated by Business Insider that the average American spends around 90,000 hours at work over his or her lifetime. Although many of us hang some credentials on the wall or stash a plant near the window, these four local companies maximize the locale of those 90,000 hours with such finesse and tasteful design that your office fern just might sprout legs and abandon you for greener pastures. These are Columbia’s coolest offices.

By Sarah Redohl | Photos by Anthony Jinson

38 \\\ June 2014

columbiabusinesstimes.com /// 39

True Media 500 Business Loop 70 W. • Jack Miller

40 \\\ June 2014

ABOVE: When Miller began the remodel of the bank, he wanted to keep the curved mezzanine and large windows flanking the Business Loop.

“We wanted to keep the architectural integrity of the original building while updating it and making it useful as an ad agency,” he says. Far Left: The remodel and transition from True Media’s former office in downtown Columbia to its current office on the Business Loop cost a little more than $2 million. LEFT and Below: “We [utilized the vault as a conference room] mostly out of necessity because it was going to be really expensive and difficult to remove the two and a half feet of reinforced concrete around the exterior,” he says. “Plus, being in tornado alley, it makes a really safe shelter space.”

Opposite Page: President Jack Miller stands near the foyer of True Media’s office on the Business Loop.

W

When True Media grew out of its downtown office space, President Jack Miller began to look at his options and ultimately landed the advertising agency in the former Commerce Bank building at 500 Business Loop 70 W. “We came into a building that was already unique in nature,” Miller says. “The architectural layout was ahead of its time, even when it was built in the late ’60s, early ’70s.” Despite its former purpose, Miller says the original design lent itself well to the transition from bank to ad agency.

“When it was built, it wasn’t designed to look like a traditional bank,” he says. “If we didn’t keep the vault, you might not even know it ever was a bank. It almost looks like it was designed to be an ad agency.” columbiabusinesstimes.com /// 41

AnnaBelle Events, Hoot Design Co. and SilverBox Photographers 107 Orr St. • Kim Wade, Annika Miller, Anne Hanks, Kristen Brown

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Four women running three businesses out of 107 Orr St. might seem like a full house. But the four women — Annika Miller and Kim Wade of SilverBox Photographers, Kristen Brown of Hoot Design Co. and Anne Hanks of AnnaBelle Events — wouldn’t have it any other way, and they lovingly refer to their shared space as “Studio 107.”

“The really amazing thing about sharing our space is that together we can afford a space that we wouldn’t be able to alone,” Brown says. The potential for cross-marketing, referring clients to one another’s services and opportunities for creative collaboration don’t hurt either.

“It’s our own incubator of sorts,” Brown adds.

Because the women-led businesses mainly cater to a female audience, Brown says they wanted the space to feel light, airy and comfortable. “We see ourselves as the type of people who surround ourselves with good design all the time, and that’s where a lot of the inspiration came from,” Brown says.

ABOVE TOP: The southeast corner of 107 Orr showcases work by SilverBox Photographers and includes comfortable seating and a TV to show customers their photos. ABOVE: There are five standing desks in the southwest corner of the studio, including a space for office manager Jessica Hornung. LEFT TOP: The northwest corner of the studio exhibits work of both Hoot Design Co. and AnnaBelle Events. “We wanted to bring some purple in when Anne joined us because before that, it was pretty much just our brands’ colors, teal and yellow,” Brown says. LEFT BOTTOM: Brown says the sizable patio at the entrance to the office is one of her favorite elements of the shared workspace. Opposite page: From left: Kim Wade and Annika Miller of SilverBox Photographers pose with Anne Hanks of AnnaBelle Events and Kristen Brown of Hoot Design Co. in their shared workspace at 107 Orr St. columbiabusinesstimes.com /// 43

Logboat Brewing Co. 504 Fay St. • Judson Ball, Tyson Hunt and Andrew Sharp

L

Logboat Brewing Co. co-founders Judson Ball, Tyson Hunt and Andrew Sharp had a very specific vision for the design of their brewery: a mix between industrial and rustic. Only keeping two walls of the former building at 504 Fay St., an old meatpacking plant, the trio married the space’s industrial past with rustic reclaimed wood accents.

“We’re big fans of the mountains and wanted this place to feel like a lodge,” Hunt says. Visitors enter through the taproom, which has a view directly into the brewing area. Upstairs is an office area and conference room overlooking the brewery.

“It’s really inspirational when you’re sitting at your desk smelling beer being made,” Hunt says.

TOP: The second story of the space overlooks the brewing area and holds the offices of the three founders and a conference area. The conference area has already been booked for corporate meetings and events. MIDDLE LEFT: Artist Mike Wolf, originally from Moberly, created Logboat’s artwork. This piece, Shiphead, is the namesake of Logboat’s ginger wheat beer. The design for the cans will also be based on Wolf’s artwork. MIDDLE CENTER: Although Logboat’s brews are currently draft only, they plan to have cans hit the market in summer 2014. MIDDLE RIGHT: Head brewer Josh Rein fills kegs with Logboat’s Snapper IPA. BOTTOM: Logboat Brewing Co. is located at 504 Fay St. and has a large lawn that is open to the public.

Opposite page: From left: Taproom manager Nick Hardy, co-founder Tyson Hunt, artist Mike Wolf, co-founders Andrew Sharp and Judson Ball and head brewer Josh Rein hang out in the taproom a few days prior to Logboat’s grand opening. columbiabusinesstimes.com /// 45

Bukowsky Law Firm 810 E. Walnut St. • Jennifer Bukowsky

46 \\\ June 2014

N

Nearly everything in criminal defense attorney Jennifer Bukowsky’s office is highly personalized, from her signature red awning and quote-of-the-day chalkboard outside to every single frame on her walls.

“I spend a lot of time here, so I wanted it to be aesthetically pleasing and to give my clients confidence that I know what I’m doing,” she says. Along the way to her office, there are framed media clippings in the foyer, artwork her clients have made for her while awaiting trial in prison and personal mementos.

“People trust you more when they feel like they know you, so I have a lot of personal things here so my clients can see I’m a real person, too,” she says. On the east wall of her office is a large piece of artwork by Peter Lik titled River of Zen. It was a present to herself after a big win in the courtroom, and she says she hopes it has a calming influence on clients who are often in stressful situations when they come to her office.

One last personalized item? A red couch. “I have a sleeping bag in my closet so I can sleep here to save time during trials,” she says.

ABOVE: The foyer shows Bukowsky’s awards and local media clippings. LEFT: Bukowsky has two statues of Lady Justice in her office. “She’s kind of the mascot of our office,” she says. Lady Justice is also present on Bukowsky’s logo in a pencil skirt and heels. BELOW TOP: Bukowsky’s credentials hang on the west wall of her office. “It’s kind of my resume on a wall,” she says.

“It shows my clients that I’m qualified to represent them.” BELOW BOTTOM: This handwritten court record by Abraham Lincoln was a gift from Bukowsky’s husband, Brant. Opposite page: Jennifer Bukowsky stands behind her desk at her office at 801 E. Walnut St. The frame to the left of Bukowsky exhibits gun cutouts she used during a murder trial to explain why her client was innocent. It was the first acquittal of murder charges in Boone County in more than 40 years.

columbiabusinesstimes.com /// 47

Columbia’s Pieces of Undeveloped Real Estate The rules of supply and demand are at play in downtown Columbia, where hard-to-come-by undeveloped real estate comes with a hefty price tag.

By Claire Boston

With downtown Columbia’s explosion of growth in recent years, undeveloped lots are hard to come by. But the few undeveloped lots downtown are some of the priciest pieces of real estate in town; their permissive C-2 zoning and covetable location drive up prices. One location outside of downtown also made the list: State Farm’s 77.3 acres of farmland doesn’t cost much per square foot, but its appraised value of close to $700,000 beats downtown appraisals.

Here’s a look at some of Columbia’s most expensive pieces of undeveloped real estate.

48 \\\ June 2014

thinkstock.com

columbiabusinesstimes.com /// 49

1. 201 S. Providence Road TKG St. Peters Shopping Center LLC owns the 3.27 acres just south of Lucky’s Market and in front of the Columbia Cemetery. The land is a likely spot for Columbia’s seventh McDonald’s and an additional 15,000 square feet of retail space.

Assessed value: $68,371 Appraised value: $569,760 Approximate price per square foot: $4

2

2. 317 E. Broadway Real estate developer Dan Hagan owns this 29,850-square-foot lot on the corner of Broadway and Providence Road. It’s a parking lot right now.

Assessed value: $125,452 Appraised value: $392,040 Approximate price per square foot: $13.13

3. South Seventh Street lot

1

This 9,352-square-foot parking lot is owned by Boone County National Bank.

Other companies own a handful of other undeveloped lots on Seventh Street, but the lot on Seventh Street between Cherry Street and Broadway is more expensive.

Assessed value: $58.464 Appraised value: $182,700 Approximate price per square foot: $19.54

4. South Eighth Street lot At 8,550 square feet, this parking lot is a little smaller than its Seventh Street neighbor and also a little cheaper. Last Enterprises LLC owns the space, as well as a less expensive lot behind it.

Assessed value: $50,336 Appraised value: $157,300 Approximate price per square foot: $18.40 50 \\\ June 2014

7

6

5. Corner of 10th Street and Broadway This 7,713-square-foot property is currently a private parking lot next to Red Mango in downtown Columbia.

It won’t stay that way for long though.

BMT of Columbia LLC owns the land and has plans for a five-story mixeduse space that will have retail space along with 28 apartments for Columbia professionals.

5

Assessed value: $54,336 Appraised value: $169,800 Approximate price per square foot: $22.01

6. 210 Orr St.

3

4

Ameren Missouri currently owns this 1.5-acre site where it once operated a manufactured-gas plant. The plant closed in 1932, but tar from the plant lingers in the lot’s soil. Workers are excavating 36,000 pounds of soil as part of a project that will continue until July. After cleanup is complete, the City of Columbia has first dibs on accepting or denying Ameren’s price for the land.

Assessed value: $208,395 Appraised value: $651,237 Approximate price per square foot: $9.97

7. 4302 S. Providence Road State Farm owns 77.3 acres of farmland near Rock Bridge High School.

Although vacant now, the land is prime for future development. State Farm used to own even more of the space. In 2012, it sold 25 acres to University of Missouri Health Care, which plans to open a new clinic on the land.

Assessed value: $81,090 Appraised value: $675,750 Approximate price per square foot: 20 cents CBT columbiabusinesstimes.com /// 51

A History of Housing By torie ross photo by Casey Buckman Photography Interior Photos by Whitney Buckner and Sarah Redohl

52 \\\ June 2014

Within the past few years, southwest Columbia has become a maze of manicured lawns and neat single-family homes. The past decade saw a dramatic boom in subdivision development followed by a lag caused by the housing crisis, which has dramatically changed the landscape of Columbia.

In some cases, this somewhat sudden change in the supply and demand of new developments has resulted in what Columbia Development Services Manager Patrick Zenner calls “zombie subdivisions,� developments that have been fitted with permits, streets and utilities but then stay stagnant for months or even years at a time. In other cases, developers timed construction perfectly and filled up lots with buyers within a matter of weeks.

With the real estate market purportedly on the mend, we take a look at some of Columbia’s most popular housing developments and how they might affect the future setting of our city. * All information is sourced through deeds of trust filed with the Boone County Recorders Office, unless otherwise noted.

columbiabusinesstimes.com /// 53

7

1. West Pointe

When they were developed: 1993 Developer: Harold E. Johnson Companies Location: Scott Boulevard and West Vawter School Road Number: 116 homes* *Source: coldwellbanker.com

4. Wyndam Ridge

When they were developed: 2008 Developer: Jack and Fred Overton* Location: Scott Boulevard and Old Mill Creek Road Number: 60 plots *Source: wyndamridgecolumbia.com

12 3 1

9 11

2 6

14 4

2. Spring Creek*

When they were developed: 2000 Developer: Wynfield Development Corp.

Location: Scott Boulevard and Vawter School Road Number: 104 plots *Source: Wynfield Development Corp.

3. Katy Lake Estates When they were developed: 1993 Developer: Cal-Grath Development Inc. Location: Scott Boulevard and Grant Lane Number: 203 homes* *Source: katylakeestates.org 54 \\\ June 2014

5. Arrowhead Lake

When they were developed: 1994 Developer: Evergreen Estates Development Corp.

Location: West Route K and Arrowhead Lake Drive Number: 256 residents* *Source: remax-midstates.com

6. The Highlands

When they were developed: 1985 Developer: Stan Kroenke, Justin Perry, Dennis Harper and Bill James/Highlands Properties Co. Location: South of Nifong Number: 654 homes* *Source: coldwellbanker.com

5

13

7. Vanderveen Crossing*

When they were developed: 2004 Developer: Steve Herigon Location: Providence Road and Smiley Lane Number: 181 homes** *Source: vanderveencrossing.org ** Source: coldwellbanker.com

8

9. Copperstone

12. Village of Cherry Hill*

10. Bristol Lake

13. Cascades

When they were developed: 2006* Developer: Dave Dunafon and Kevin Kearns* Location: Scott Boulevard and Vawter School Road Number: 173 plots *Source: copperstonelifestyle.com

When they were developed: 1999 Developer: Roy Finley, Roy Finley Building and Development Location: Scott Boulevard and Chapel Hill Road Number: 122 units (69 detached single-family homes) *Source: villageofcherryhill.com

10

8. Old Hawthorne*

When they were developed: 2006 Developer: Boone Development Inc. and Old Hawthorne Development LLC Location: E. Broadway and Old Hawthorne Drive.

Number: Nearly 400 single-family plots *Source: oldhawthorne.com

When they were developed: 2004* Developer: Horizon Builders* Location: East Gans Road Number: 75 units (51 detached single-family homes)* *Source: bristollakehomes.com

When they were developed: 2002 Developer: R. Anthony Development Group* Location: West Route K and Cascades Drive Number: N/A *Source: anthonyproperties.com

11. Oak Park

14. Magnolia Falls*

When they were developed: 2012* Developer: Larry and Brenda Potterfield/Beacon Street Properties* Location: Southwest Columbia Number: 105 plots* *Source: beaconstreetproperties.com

When they were developed: 2007 Developer: Delta Springs Development, Glen Strothmann, Andrew McVey/Beacon Street Properties Location: Old Mill Creek Road and State Route KK Number: 101 plots *Source: beaconstreetproperties.com CBT columbiabusinesstimes.com /// 55

s ec t i o n 8 explained M i s pe r cep t i o n s pe r s i s t r e g a r d i n g Sec t i o n 8 .

In 1937, when the United States was still recovering from a post-Depression economy, the federal government instituted the Housing Act of 1937 to authorize public housing authorities at the state level. The purpose of the PHAs was twofold.

Much like the 2009 American Recovery and Reinvestment Act, the initial primary purpose was to create jobs and stimulate the economy through the construction of public housing projects. The second goal was to provide affordable housing.

By Bondi Wood Photo by Casey Buckman Photography 56 \\\ June 2014

columbiabusinesstimes.com /// 57

However, nearly 40 years later, in 1974, the federal government and social service agencies determined the real barrier for low-income families to afford housing was the debilitatingly high percentage of their income they were paying in housing costs.

Studies showed that most low-income families were spending in excess of 50 percent of their incomes on housing, so the government revised the original Housing Act to include a Housing Choice Voucher Program, which happened to appear in “Section 8” of the original Housing Act. Since its launch nearly 40 years ago, the term “Section 8” has become synonymous with all types of public housing. Although there are several government-assisted housing programs, only one is accurately called Section 8.

Section 8 applies specifically to the Housing Choice Voucher Program, which provides two types of housing vouchers. Project-based vouchers can only be used at specific housing projects or complexes; tenant-based vouchers can be used in any rentals where a landlord agrees to accept such vouchers. The tenantbased vouchers move with the tenant.

In Columbia there are no project-based Section 8 housing complexes. Locally, the Colum58 \\\ June 2014

bia Housing Authority administers and oversees the tenant-based or Housing Choice Voucher Program. However, the CHA does own and operate public housing complexes such as Paquin Towers, Oak Towers, Bear Creek Townhomes and Providence Family Townhomes.

Tenants in Columbia’s public housing are also rent assisted, according to Phil Steinhaus, CEO of the Columbia Housing Authority. But people accepted into the Housing Choice Voucher Program cannot use the vouchers at Columbia’s public housing complexes.

The distinction between public housing and the Housing Choice Voucher Program (also called Section 8) is often blurred. In Columbia there are approximately 720 public housing units, aside from the approximately 1,000 households (tenants) in the Housing Choice Voucher Program who live in privately owned rentals.

What is the Housing Choice Voucher Program?

Once a household qualifies for and receives a Housing Choice Voucher, that household is responsible for shopping the vouchers around to find housing from landlords willing to accept them.

“We let the private sector manage the housing for the voucher program,” Steinhaus says.

Eligibility for Housing Choice Vouchers is based on several criteria; chief among them is a household’s net income. That net income is further adjusted by certain deductions based on the number of children, elderly and disabled people in the household. The goal of the tenantbased vouchers is that eligible families only pay 30 percent of their income on housing, and the remaining rent is paid with government funds.

Because the deductions are given to households that include children, the elderly or the disabled, proponents of tenant-based Section 8 housing claim it is aimed at households that will likely remain low income, especially households headed by a disabled person or an elderly person, thereby providing these at-risk households with long-term housing stability.

Proof has born this out as the voucher waiting list is astronomical across the nation. Most states are not even adding names to the waiting list — and haven’t for years — proving that many of the Housing Choice Voucher tenants remain in the program long term. According to Steinhaus, there are currently 636 households on the CHA’s waiting list; however, that number has been significantly higher the past few years.

“We opened our HCV waiting list for one week in September 2012 and took over 1,500 applications,” Steinhaus says. “We closed that waiting list after one week because of the large number of applicants. We don’t expect to open our waiting list again until some time in mid- to late 2015.”

The local Housing Choice Voucher population, according to Steinhaus, is made up of 84.4 percent female heads of household, with 37 percent of those also having a disability. Families with children make up 61 percent of the households. Sixty-five percent are African-American, and 34 percent are white.

“Good tenants are good tenants, whether they’re Section 8 or not. Some of my best tenants have been Section 8.” — Gene Stephenson

The CHA reports the current average household income for HCV participants is $12,854.

The average rent paid per household/tenant is $149 per month. The Average Housing Assistance Payment, or the portion subsidized by the government, is $448 per month.

Who are the landlords?

Gene Stephenson has been a local landlord since 1987 and now owns more than 60 properties, primarily single-family, duplexes and fourplexes in several Columbia neighborhoods.

With the exception of his first year as a landlord, Stephenson has accepted Housing Choice Vouchers. For the past 26 years, Housing Choice Voucher tenants have rented roughly 10 percent of his properties.

Unlike other communities, Columbia’s rental price points are heavily influenced by a large student population. According to Stephenson, he initially agreed to be a Section 8 landlord because he could ask more in monthly rent for his rentals that weren’t attractive to students.

“Basically, back then HUD, other than students, were setting the rental prices, and they were more than I could get otherwise,” he says.

According to Steinhaus, “HUD establishes a Fair Market Rent for our area to make sure land-

lords get paid a fair rent while also ensuring that HUD and CHA pay a fair net no higher than the regular market rent.”

But before a landlord can collect the rent, he or she must agree to other conditions to become a Housing Choice Voucher or Section 8 landlord. These conditions include submitting the rental property to an annual inspection, agreeing to the rental rate dictated by HUD and reporting any suspicious criminal or drug activity to the local housing authority.

Stephenson hasn’t found these conditions too cumbersome.

“Once you get going with them [HUD], it’s no problem,” he says. “I already get inspected every three years by the city, and VA loans are way pickier than Section 8. I fix up all my houses. When I get done with the house, I would stay there.”

Because he owns so many rentals, Stephenson uses a rental management company called 443STOP to deal with most of the required paperwork. According to a representative from 443STOP, who declined to be named, Section 8 rentals comprise about 10 percent of all its clients’ rentals, similar to what Stephenson reports.

Both Stephenson and 443-STOP say they do not advertise rental properties as Section 8; columbiabusinesstimes.com /// 59

however, if approached by a Section 8 tenant, they determine case by case whether to participate. Once a Section 8 tenant leaves a property, the next tenant might or might not be a Section 8 tenant. The Housing Choice Voucher moves with the tenant and is not attached to any rental properties other than when rented to a Section 8 tenant. The location of Section 8 rentals, therefore, is dynamic rather than static.

Good tenants or bad tenants?

Since renting to his first Section 8 tenant more than 25 years ago, Stephenson has not had any Section 8-specific issues. When asked whether he has reported any criminal or drug activity to CHA, Stephenson says: “I have not. I make all my tenants aware that I’m visible, and I don’t condone it, and this goes for all my tenants.”

Despite the bad rap often given to Section 8 tenants, data collected by the CHA paints a different picture.

“We check the arrest records on a daily basis and exchange information on assisted addresses and households with the Columbia Police Department and Boone County Sheriff’s Department to identify anyone involved in criminal activity in an assisted household or using the address of an assisted household,” Steinhaus says.

In 2013, less than 2.7 percent of the households had their assistance terminated as a result of drug-related or criminal activity.

Stephenson says: “Good tenants are good tenants, whether they’re Section 8 or not.

Some of my best tenants have been Section 8. … They tend to stick around.”

Steinhaus also wants the community to realize there is an economic benefit to the Housing Choice Voucher Program. “The FY 2015 budget for CHA Housing Assistance payments to local landlords is in excess of $6 million,” he says. “This is rent assistance paid directly to landlords.”

What about other lowincome housing complexes?

In addition to the public housing owned and operated by the Columbia Housing Authority, Columbia is also home to several developments spawned by the Missouri Housing Development Commission. These properties are constructed and built by the private sector and are given generous preconstruction tax breaks in return for keeping rents at a reduced level for 20 years. At the end of the 20-year agreement, the rent can revert to market rate, or the owner can substantially improve the property and re-up for another extended period. The Columbia Housing Authority is not affiliated with these types of properties, which are not part of public housing. Locally, such properties include Hanover Place, North Hampton and Lakewood Apartments, Columbia Square and Bethel Ridge.

A fear commonly expressed by many is that aging rental properties will ultimately become Section 8 housing. There are several good reasons this likely won’t happen.

First, given that the current federal funding to local housing authorities dwindles every year, it is highly unlikely that Boone County will ever have more than around 1,000 households/tenants in the Housing Choice Voucher Program. Simply put, the supply of housing far exceeds the number of potential Section 8 tenants. Further, according to Steinhaus, no new large public housing complexes are being constructed or purchased by the Columbia Housing Authority. Consequently, it is highly unlikely any aging apartment complexes will become public housing.

In Columbia there are waiting lists for both public housing and the Housing Choice Voucher Program. The federal government isn’t increasing its funding to the local public housing authority, so the pool of publicly assisted renters will not increase. CBT

How Does Columbia’s Public Housing Compare?

City

Population

Public housing and Section 8 units

%-age of population

Columbia

113,000

1,900

0.017 percent

Springfield

162,191

3,000

0.018 percent

St. Joseph

77,167

227

0.002 percent

Manhattan, KS

56,069

505

0.009 percent

60 \\\ June 2014

How Income is Calculated for Housing Choice Eligibility Net income is a household’s gross income minus the following deductions: • $480 for each dependent. A dependent is a member of the family (other than the head of household or spouse) who is under 18 years of age or a full-time student or a person with a disability. You may not take this deduction for foster children.

• Child care expenses for children under age 13 when the child care is needed so a family member can work, look for work or attend school. If the child care allows a family member to work, the child care expenses cannot be greater than the working person’s income.

• $400 per household if the head of household or spouse is elderly or has a disability.

• Certain disability assistance and medical expenses that are greater than 3 percent of the gross annual household income.

Source: Department of Housing and Urban Development

The Pros and Cons of Owning Section 8 Rentals Pros 1. Typically the government subsidies mean your rental income is more reliable.

2. Section 8 tenants can resolve persistent vacancy issues because the waiting list is so long. There is a guaranteed pool of Section 8 tenants available to rent properties. The extended waiting lists ensure that the existing number will likely remain constant.

Cons 1. Renting to Section 8 tenants can put your property at greater scrutiny due to annual inspections.

2. Other tenants may be hesitant to rent a unit within a property that also rents to Section 8 tenants.

Source: Buildium LLC Online Property Management

What Is Payment Standard?

Payment standard is the monthly portion of rent paid to the landlord by the federal government via the Section 8 voucher.

Typically the payment standard is the same as the Fair Market Rent value; however, it can be slightly higher or lower.

Source: Department of Housing and Urban Development

columbiabusinesstimes.com /// 61

thinkstock.com

62 \\\ June 2014

Columbia’s Ewing Industrial Park and Sutter Industrial Park are on the short list of two companies looking to build new data centers, but there’s more to the story than a cozy location on the northeast side of town.

By Debbie Cutler

columbiabusinesstimes.com /// 63

Columbia has made the short list of two unnamed companies looking to potentially build data centers in the northeast industrial side of town along Route B. This could mean increased property and sales tax revenue, a handful of high-wage jobs and a small footprint when it comes to development as data centers don’t use a lot of utilities and don’t attract a lot of vehicle traffic.

In fact, there are two Missouri sites — Ewing Industrial Park and Sutter Industrial Park — ready and waiting for the right company to come along. Each site has approximately 100 Missouri Department of Economic Development-certified acres with close access to utilities and broadband.

For these reasons, attracting a data center to Columbia has become an appealing opportunity for Regional Economic Development Inc., which promotes economic growth to the area, in part, through business development.

Still, there’s a lot of competition, and data centers tend to cluster in states such as Arizona, California, Washington, Oklahoma, Iowa, North Carolina, New York, Colorado and Texas. Proximity to hydropower, a large local population and an appealing regulatory climate are all factors of consideration for data centers. Iceland and Canada are alluring because data centers run hot, and these environments offer cooler climates and lower cooling bills. To circumvent that, Kansas City, Springfield and Branson have data centers in caves.

64 \\\ June 2014

“I would say we’re certainly not putting all our eggs in the data center basket,” says Bernie Andrews, executive vice president of REDI, the organization behind this marketing initiative.

“It’s one market we are continuing to try and look at attracting to Columbia because of the large capital investment.”

The idea was formed in 2007 when REDI asked a consulting firm from Austin, Texas, to look at Columbia and advise on what could attract more technology to the area.

“The study determined that data centers would be a good target industry for marketing because of the University [of Missouri’s] strength in computer science and computer engineering and the fairly low disaster risk in terms of natural disasters,” Andrews says.

Marketing efforts to promote the Ewing and Sutter sites for development include REDI staff attending several data center conferences and trade shows in places such as Florida and California.

A couple years back, the city was the runnerup site to get a major data center to locate in north Columbia, says Mike Brooks, REDI president. But in the end, AT&T elected North Carolina for the project.

“Keep in mind, there are a thousand communities in this country that all want data centers,” Brooks says. “For a data center to be interested in Columbia, Mo., it would have to be someone interested in locating in the Midwest, or they are not going to even find us.”

Why Columbia?

When it comes to building a data center, every company looking for sites is going to have a list of criteria they are evaluating the locales on, Brooks says. The most important advantage Columbia offers is the opportunity for the client to purchase wholesale power, the largest cost item data centers buy.

The city’s electric structure allows the company to purchase directly through the city, which allows for relatively low-cost power for larger data centers. Also, Columbia is in a geologically low-risk to moderate-risk area for earthquake hazards, Brooks says.

“Boone County is several seismic zones away from the seismic risk of the New Madrid Fault,” Andrews adds. “ We have a risk, but is it much less than southeast Missouri.”

“Data centers cost millions of dollars,” Andrews says. “They provide tax revenue and create high-paying jobs. They are generally good projects.”

Columbia’s central location is also of benefit. The city would be ideal for companies that want to put their data backup centers away from their corporate headquarters but still maintain easy accessibility. “And we are still close to major metro areas, St. Louis, Kansas City, with good proximity to I-70,” Andrews says.

In addition, the climate here, though hot in July and August, is more temperate than other cluster site areas, such as Arizona or Texas, which means less cooling to data centers.

Furthermore, MU is working with REDI on ways to dissipate heat into the ground to better cool the proposed center. Yun-Sheng “Shawn” Xu, associate research professor for the Civil and Environmental Engineering Department, says such a system would not only cool the facility more efficiently, but also the energy could be sold to others nearby as a heat source.

“Data center machines produce a lot of heat,” he says. “That heat can be dumped to the ground rather than put into the air through a large heat exchanger under the ground; you actually pipe it into the ground.”

The piping system can be either vertical or horizontal, and heat generated from the data center can be carried to neighboring buildings for their heating purposes.

thinkstock.com

columbiabusinesstimes.com /// 65

“You can make money through the operation [of this system],” Xu says. “The heat generated from data center can be used for domestic water heating or building space heating. If you can find a user for [the heat generated], you could cover the cooling expenses.”

Jobs and tax revenue A Kansas City-based property-holding company, CB&T ORE Holdings II LLC, hired a property manager to market the Ewing site.

The St. Louis firm Jones Lang and LaSalle has the property listed for sale in 10-acre to 283acre parcels. There is electric, water, sewer and other infrastructure that surrounds both the Ewing and Sutter sites.

Although two companies — what Brooks calls enterprise centers due to their large size — are looking at the sites, it is too early to release details. But if one of these companies selects either the Ewing or Sutter site, it wouldn’t mean a lot of job growth, but it could rebound into that.

“There’s a strong possibility, if it is an enterprise center [going in], you would find ancil66 \\\ June 2014

lary services companies want to locate in close proximity to support that business,” Brooks says. “I can’t give you specific examples [at this

“Keep in mind, there are a thousand communities in this country that all want data centers. For a data center to be interested in Columbia, Mo., it would have to be someone interested in locating in the Midwest, or they are not going to even find us.” — Mike Brooks, president, REDI

time], but I would say, yes, there is a distinct opportunity.”

It will also create a strong tax base, and it does not put a great deal of stress on existing infrastructure, such as downtown development concerns on an already spent sewer and water system.

So how many tax dollars will it bring in?

It’s impossible to guess at this point. “Is it a 10,000-square-foot building, or is it a 100,000-square-foot building?” Brooks asks.

“The only way to answer the question is to know what the investment amount is, and then you can do an estimate, but it would only be an estimate because only the tax assessor can do the assessment.”

Columbia is home to small data centers, including some that are underground, such as ISG Technology on Stadium. Construction of a larger data center would be one step forward for REDI. “Data centers cost millions of dollars,” Andrews says. “They provide tax revenue and create high-paying jobs. They are generally good projects.” CBT

E xpEriEncE is ThE DiffErEncE D L •F L •c L •P i omestic

aw

amiLy

aw

riminaL

aw

ersonaL njury

Milt Harper Kay Evans Ron Netemeyer Helen Wade Jeff Hilbrenner

Kevin O’Brien Melissa Faurot Katy Reeder Jill Elsbury

“We’ll Fight For You.”

HARPER, EVANS, WADE & NETEMEYER 401 Locust Ste 401 | Columbia, MO | 573.442.1660 | www.lawmissouri.com “The choice of a lawyer is an important decision and should not be based solely upon advertisements.” columbiabusinesstimes.com /// 67

Going Up

›› City structures by Claire Boston

1

2

3

1. Orr Street Lofts

Address: 104 Orr St. and 1101 E. Walnut St. Who’s building it: Mark Timberlake and Jon Odle Contractor: Timberlake Engineering What it will be: A five-level mixeduse retail and residential space. The top floors will be luxury housing aimed at city professionals and seniors. The bottom floor will have office and restaurant space.

Cost: In April 2013, 1101 East Walnut LLC secured a $5.35 million loan from Boone County National Bank to finance the project.

Assessed value: 1101 E. Walnut St.: $59,818; 104 Orr St.: $14,889

2. Wilson’s Fitness Center Range Line Expansion Address: 2601 Range Line St. Who’s building it: Wilson’s Fitness Center Contractors: Huebert Builders Inc. and Midwest Engineering and Design What it will be: The expansion will double the size of the gym’s workout space to 1,800 square feet. There will also be six new downstairs retail spaces.

Cost: In March 2014, 3 Forums LLC secured a $3.4 million loan from Landmark Bank to finance the project.

Assessed value: $312,345

3. Hagan Scholarship Academy

Address: Broadway between William and Dorsey streets Who’s building it: Dan Hagan Contractors: Unavailable What it will be: A free college preparatory boarding school for high-achieving high school juniors and seniors from rural backgrounds.

Cost: Unavailable Value: $264,884 68 \\\ June 2014

built to last 4. The Crossing Church Expansion

4

Address: 3615 Southland Drive Who’s building it: The Crossing Church Contractor: GBH Builders What it will be: A major building expansion that will include a new children’s wing, new foyers, new middle and high school facilities, a fully functional gym, additional office space, new parking lots, an expanded and relocated café, a new athletic field, an expanded family entrance and a repaired pond.

Cost: $11.5 million Assessed value: Nonprofit and therefore tax exempt

5 5. The Residences on 5th & Conley

Address: 601 S. Fifth St. Who’s building it: Collegiate Housing Partners Contractors: Crockett Engineering What it will be: A 98-unit, 351-bed upscale student-housing complex adjacent to the University of Missouri campus. The complex will include a clubhouse, pool and lounge.

Cost: In October 2013, Columbia Properties II LLC secured a $25 million loan from the St. Louis-based BMO Harris Bank to finance the project.

Assessed value: $181,564

6

6. First Midwest Bank’s Second Columbia Branch

Address: 1215 Fellows Place Who’s building it: First Midwest Bank Contractors: Enrich Construction & Remodeling What it will be: A second Columbia branch for the Poplar Bluff-based bank.

Cost: Unavailable Assessed value: $71,091 CBT Photos by Sarah Redohl. columbiabusinesstimes.com /// 69

Nonprofit Spotlight ›› Coyote Hill

A Child’s Safety Net

Coyote Hill builds safe family environments for children.

It was 1991 when Larry McDaniel and his wife knew there was a need for a type of organization that could blend a Christian ministry and a professional agency. He thought the two belonged together; that’s when Coyote Hill was born.

Coyote Hill is a Christian children’s home that provides a secure family environment for neglected or abused children who are in need of stability, love, food, shelter and clothing.

Over the course of Coyote Hill’s 23 years, the homes and home parents have served more than 300 children, 50 in 2013 alone.

“We have a culture here of a functional family,” McDaniel says. “Everybody here is on the page doing their part. When you have that culture in an agency, it goes a long way to making it successful. That culture is aimed directly to helping the children.”

Emily Clapp “Be a mentor for a child. You set your time commitment and provide them one-onone time that they don’t get much of in a large household. If you don’t have time, consider donating household goods or money to keep these houses running.”

70 \\\ June 2014

Coyote Hill’s goal is to provide children with a better way to live, learn and grow. The organization’s 200-acre property, 20 miles north of Columbia near Harrisburg, consists of four homes that each house up to eight foster children and are directed by home parents, live-in foster parents who model a healthy relationship.

“We know it works,” Site Director Bill Atherton says. “It’s an amazing adventure to watch children grow up, to grow in ways that just sort of blow your mind.”

A ‘normal family experience’ Coyote Hill home parents are an integral part of the success of the children, who on average live in one of the homes for about a year.

“It takes a real gift to deal with the diversity of the children that we help, coming from

Wayne Walker “Each time a new home is dedicated, that is a proud moment for me. That means that up to eight more kids can find a safe and caring place to live.”

By Madison Alcedo

all types of backgrounds and different issues,” McDaniel says. “That’s why our home parents have to be viewed as professional staff.”

Merri and Andrew Heberlein have been the home parents of Coyote Hill’s Wright Home since September 2013. They work with their seven foster children and two biological children to teach them as many life skills as possible. Every day they continue to teach their kids how to cook meals, do chores and the laundry: tasks that stress they can be successful at small things.

Learning from rewards of a lot of high-fives and hugs, the kids, Merri Heberlein says, are a work in progress. “They’re growing in such huge ways every day,” she says. “But it’s not always visible from the outside world perspective. As home parents and part of their team, we can see the little things that are adding up to be big changes.”

Pete Cummings “There are always needs. Pray for success, volunteer your time, give a contribution, or become a regular donor. If there is any question, go for a tour, and see the campus. See the children. See for yourself the good works that are happening daily.”

Larry Gross “Forty-two percent of foster children nationwide do not graduate high school, but 100 percent of Coyote Hill’s high school seniors have graduated. Our success rate of our children is due to the extraordinary staff and house parents.”

➜ Coyote Hill – Main Office P.O. Box 1, Harrisburg, MO 65256 573-874-0179 • office@coyotehill.org

The Heberleins have been foster parents since 2005 and have been with Coyote Hill since 2012. They first began volunteering, but the more involved they got with Coyote Hill, the more Heberlein says she knew God was calling them to be there.

Heberlein stresses the importance of Coyote Hill’s purpose of providing a normal family experience for the kids, just like a normal family of brothers, sisters, a mom and a dad.

“That’s a lot of our goal, to help the kids feel as normal as possible despite their stressful situations,” she says.

Community hands on deck Just like any family, juggling the kid’s day-to-day activities takes an army. Luckily at Coyote Hill, volunteers work alongside the home parents every day to help tutor the children in mathematics and reading and finish their daily homework.

“They are directly impacting that child’s education,” Development Director Kari Hopkins says.

Volunteers can also become mentors to children, mentors who befriend a child to build them Kevin Brown “I believe it is vital to help children who are in some unfortunate situations feel safe and loved within a Christian home setting.”

up and encourage them in everything that they are learning at their home and at school, Hopkins says.

“We have had one mentor who continued her mentorship for three-plus years,” she says. “She was able to be with her mentee throughout a move to a cousin’s home and eventually be adopted. I think it made all the difference in the little girl to have her mentor there.”

Larger groups of volunteers are also welcome.

Maintaining the Coyote Hill grounds, which includes jungle gyms, swing sets, two fishing lakes, a beach with a swimming area and mountain biking and walking trails, is really important to keep it a beautiful place to grow, Hopkins says. In April, 50 University of Missouri Chi Alpha members spent an afternoon serving Coyote Hill’s needs.

“We have professional services and professional staff, but we want to make sure our facilities, our homes are also professional,” Hopkins says.

The fourth home on the Coyote Hill property, the Wright Home, was completed in 2011 and was the first home to be handicap accessible, equipped with an elevator, in hopes of serving children with disabilities.

Jonathan Tips “The love and care the house parents give to the troubled young people comes from God. Not everyone could do what they do.”

The Atherton Home, Coyote Hill’s newest and fifth home, will be unveiled on Sept. 7.

After the fifth home is complete, McDaniel says they’ll be focusing on much more than continuing to build more homes. He says they will be advancing toward helping broken families.

“We want to be able to minister to families as well,” he says. “We are working with children, so now the question is: How do we work with families, and how can we do that well?”

Coyote Hill has seen tremendous growth since its inception, but what McDaniel wants the community to understand is that Coyote Hill truly does break the cycle of abuse and neglect, and the kids are growing up to be successes.

“They’re going to be able to go back to the community because of the opportunities that they have had here and give back in a number of ways,” he says. “Everything we invest in their lives today, they will contribute those positive lessons to their own marriages and families in the future.” CBT Photos by Kendra Johnson.

Gary Hamilton “Mark Zimmer, the gentleman who donated the land to start building homes, introduced me to Coyote Hill many years ago. He was sold on the concept, and once I saw how Larry McDaniel operated, I was sold. ”

“We have a culture here of a functional family.

Everybody here is on the page doing their part.

When you have that culture in an agency, it goes a long way to making it successful.” — Larry McDaniel, Coyote Hill columbiabusinesstimes.com /// 71

Two-thirds of Missouri families need some form of child care to work or to go to school. Child Care Aware 速 of Missouri helps to connect families all over the state to child care programs that meet their specific needs. While employees are spending their time at work and focusing on productivity, they can rest assured their child is being cared for.

n, HR Attentio ls! na Professio

If a new employee is moving to the area, Child Care Aware 速 of Missouri can provide no cost referrals to a child care center or home.

Questions about how to get started?

Give us a call or visit our website.

72 \\\ June 2014

Technology

›› Monica Pitts reviews the latest trends in tech

Office Space

It’s more than feng shui and square footage.

When choosing an ideal office location, a business has many criteria to consider: cost, square footage, location and parking, just to name a few. After you’ve checked off those boxes, more detailed items for evaluation come into play, one of which may be technical considerations. To evaluate an office space for your tech needs, always get the must-haves from your tech crew. Then consult with your real estate agent, and double check with local service providers to ensure the space meets your requirements.

Keep the following in mind: 1. DATA AREA REQUIREMENTS: Depending on your office’s technical needs, you may need to evaluate the office space for a suitable data area. Look for a centralized place to house servers, routers or phone equipment. If there isn’t an already-established area, is there one that may be suitable for your needs? What costs will be involved to set up the space?

• Consider the amount of space your equipment requires to ensure you can fit it all in the chosen location.

• Also, pay attention to the circuitry of the building, and make sure the power to the room you choose isn’t also being used for multiple others. This cuts down on your chances of flipping a circuit and having to go into emergency mode to keep all the equipment up and running.

• Assess the cooling and ventilation in the potential equipment area. Lots of equipment in a small room can raise the temperature quickly. Most servers and routers perform best in temperate conditions; only a select few hardened equipment options will operate in high temperatures.

Monica Pitts

2. SUITABLE WIRING: If your office uses multiple analog phone lines or an IP phone system for telecommunication, pre-existing wiring may be a tech area to explore prior to moving into your new office space. Examine the data area to assess the number of data or voice drops already in place, and then note how data or phone jacks are distributed throughout the office space.

• Are the drops coming into the data area the appropriate type? If you have an IP phone system, you’ll need data drops. If you use an analog phone system, you’ll need analog drops.

• Determine the number of physical drops and the distribution to each office space.

Are there enough voice and data jacks for the number of workstations or phones planned for placement in each office? For example: If you only have three data jacks but nine employees with workstations, you may need to contact a professional to install more or troubleshoot a way to split and distribute the lines.

3. APPROPRIATE INTERNET SPEEDS: Most businesses need reliable Internet to perform day-to-day business operations. The type of Internet your business requires may restrict potential office spaces.

• The physical location of the building may restrict the available Internet speeds. In The District there are a variety of speeds and providers available. Business Loop locations may not have upgraded fiber and still be running on older copper lines, limiting available connection speeds.

• Older buildings may need to be rewired, still depending on older copper lines to deliver phone and Internet service. The lines to the building may need to be upgraded to receive faster speeds even in a well-covered area of town.

• Ask your real estate agent what Internet speeds are available in the buildings you’re considering, and don’t be afraid to double check with local providers. Ask about DSL, fiber and cable Internet availability.

4. ADEQUATE CELLULAR COVERAGE: If your new office could double as a storm shelter, your cell coverage may be limited. Poor cell coverage can lower employee efficiency and slow down or even restrict cellular data load times. Test for coverage on multiple cell networks prior to choosing an office space if cellphones are a necessity for your day-to-day operations.

• Basement units can often present challenges for cell coverage by dropping calls when entering the lower areas and, in some cases, not receiving calls or texts until exiting the basement.

• Extremely dense buildings can interrupt cell coverage, especially if working from the middle of the structure.

Who knew there was so much more to consider than feng shui and square footage? Use these suggestions, and keep an open flow of communication among your tech staff, real estate agent and potential service providers to uncover any tech trip-ups prior to moving day. CBT

➜ P i t t s i s t he ch i e f c r eat i ve d i r ec t o r o f M ay e C r eat e D e s i g n . columbiabusinesstimes.com /// 73

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74 \\\ June 2014

Celebrations

›› Columbia Board of REALTORS

LOCAL l eader

All the Right Stuff Brian Toohey takes over as CEO of the Columbia Board of REALTORS.

Brian Toohey. Photo by Anthony Jinson.

Timeline 1944 › CBOR is founded to represent property buyers’ and sellers’ rights.

1997 › Becky Sterling becomes a member of CBOR. 2001 › CBOR member Richard Mendenhall becomes president of the National Association of REALTORS. 2002 › Brian Toohey joins CBOR as a member, along with his wife, Jennifer.

2005 › Lee Russell joins CBOR as communications director, becoming operations director in 2006.

2011 › CEO Lee Russell hires Toohey to serve as CBOR’s director of operations.

2012 › CBOR launches new website for its members and the public.

2014 › Russell announces her retirement, and Toohey is promoted to CEO.

Brian Toohey’s life has been full of surprises, like in 2005 when he and his wife, Jennifer, had adopted a baby girl only to find out a short time later that Jennifer was pregnant. The Realtor couple’s recently built home wasn’t big enough, so they simply built another.

Another surprise? Falling into the real estate industry at all. Toohey had just completed his MBA at William Woods University when he saw Jennifer’s career as a Realtor take off. Upon graduation, he set out to help her.

The most recent surprise was, after leaving the real estate business for a short time, when then-CEO of the Columbia Board of REALTORS Lee Russell hired Toohey as director of operations.

What doesn’t seem so surprising, though, is Toohey’s promotion to CEO of CBOR, effective June 1, following Russell’s retirement after three years in the position.

CBOR, which aims to protect the rights of property buyers and sellers, is the local chapter of the National Association of REALTORS and has 500 current members.

A natural choice When Russell announced her retirement, board President Becky Sterling says Toohey was a natural candidate for the position.

“Generally, we [fill that position] from the outside, but in the case of Brian, we knew we wouldn’t find anyone more qualified,” Sterling says. “It’s going to be a much smoother transition than if we had someone new to start with from the ground up.”

Not only did Toohey have a history with CBOR spanning more than a decade, but he also had the academic credentials, financial knowledge and tech-savvy skills Sterling says the board was looking for. With a bachelor’s degree in political science from Westminster

By Sarah Redohl College in 1997, he also had the interest in public policy education, one of the main tenets of CBOR since its founding in 1944.

Having been a Realtor himself, Toohey says he also brings a unique perspective to the role.

Not only is he informed about local, state and national issues affecting Realtors, but he also says he can see things from a board member’s view, a quality Sterling says was particularly important for CBOR’s new CEO.

Filling Russell’s shoes “We hate to lose [Russell], but we’re happy for her,” Sterling says. “I think she did everything she meant to do during her time with CBOR.” According to Sterling, Russell’s greatest impact on the organization was her legacy of financial integrity.

Sterling believes that not only will Toohey continue Russell’s legacy of financial integrity of the organization, but he’ll also contribute to improvements in technology.

“I like to have hands-on experience with the tech tools our members use so when members call our staff with issues with the key box system or using the [Multiple Listing Service] within a specific Web browser, we can answer those questions because we’re familiar with the systems ourselves,” Toohey says.

“Technology is always a challenge for Realtors,” Sterling says, remembering the days when property-listing books were “out of date as soon as they were printed.” “[Toohey] is really up to date with technology,” she adds. “ Absolutely up to snuff.”

“The mission [of CBOR] hasn’t changed since 1944, but the methods are completely different,” Sterling says. In Toohey’s new role as CEO, Sterling believes CBOR will continue to improve its methods to better serve its members. CBT columbiabusinesstimes.com /// 75

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Deeds of Trust

›› Worth more than $400,000

$383,500,000 JDMIISF National LLC UBS Real Estate Securities Inc. LT 1 PT State Farm Sub Blk 1

$850,000 Tarwater, Kurt and Kristen Landmark Bank LT 123A Old Hawthorne Plat 2b

$15,000,000 RRCH No. 3 LLC Pegasus Bank LT 29 Garden City Sub Plat 2

$850,000 Tarwater, Kurt and Kristen Landmark Bank LT 106 West Pointe Plat 1

$10,000,000 RVR Enterprises Inc. Boone County National Bank LT 103 Crosscreek Center Plat 1

$850,000 Delta XI House Corp. of Delta Delta Delta Boone County National Bank LT 1 Delta Delta Delta Subdivision Plat 1

$6,800,000 BMT of Columbia LLC Boone County National Bank LT 1 Gordons Plat and Sub $2,366,000 Southside Trail Estates LLC Boone County National Bank STR 1-47-13 //NW Sur BK/PG: 3080/187 AC 12.740 $1,250,000 Douglas, Troy A. and Cara MFA Inc. STR 10-50-14 /W/NE FF w/ exceptions $1,099,200 GWZ Investments LLC Bank of Missouri The LT 368 Southfield Plat 3

$822,800 Beacon Street Properties LLC First Midwest Bank of Poplar Bluff STR 8-48-13 //SE $800,000 Douglas, Troy A. and Cara MFA Inc. STR 10-50-14 /W/NE FF w/ exceptions $785,000 Skyvalidas, Angelo Revocable Living Trust Landmark Bank LT 1 Angelo’s Sub

493 Deeds of trust

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$485,000 Ginger C LLC Central Trust Bank The LT 4 PT Columbia FF Vesser’s Sub $484,500 Stockton, Robert D. and Kelli L. Landmark Bank LT 520 Thornbrook Plat 15 $445,000 Family Health Center of Boone County Bank of Missouri The LT 101 Odon Guitar's Sub and Park Add LT101-102 $430,750 Bearelly, Dilip and Smith Boone County National Bank LT 170 Heritage Estates Plat 1 $417,400 Koburov, George and Karen Landmark Bank LT 134 Old Hawthorne Plat 2 $417,000 Munzlinger, Mark and Denise Commerce Bank LT 403 Old Hawthorne Plat 4

$780,420 Lucky Dog Rentals LLC Boone County National Bank LT 301 Eastport Village Plat 3

$417,000 Kuhlmann, Brian S. and Christina L. Hawthorn Bank LT 307 Highland Ridge Plat 3

$937,000 Burks, Daniel M. and Amy L. Everbank LT 114 Spring Creek Plat 1

$742,000 Bright Start Academy Inc. St. Charles County Economic Development Council LT 1a-1 Bearfield Plaza Subdivision Plat 1b

$411,000 Frew, Scott D. Mid America Mortgage Services Inc. STR 18-47-12 //SE Sur BK/PG: 1157/986 AC 5.21

$915,000 Rangeline Investments LLC First State Community Bank STR 7-48-11 /NW/SW FF w/ exceptions

$589,500 Barnes, Eric A. and Tracy Flat Branch Mortgage Inc. LT 1b Country Club Fairways Plat 1b

$406,000 Reeves, Andrew M. and Brandie Boone County National Bank STR 5-46-12 /NE/NE Sur BK/ PG: 3706/25 AC 10.400

ON THE WEB @

$855,008 RLS Development LLC Mid America Bank LT 7 Hunters Ridge Sub

$522,900 Vanella, Michael and Cherie DAS Acquisition LLC LT 232a Copperstone Plat 7

$406,000 Reeves, Andrew M. and Brandie Boone County National Bank LT 72 Deer Ridge Plat 2

FOR MORE INFO

$850,000 Ginger C LLC Central Trust Bank The LT 1 Bowling Place FF Vessers Subdivision

$489,678 Voeller Commercial LLC Bank of Missouri The LT 59 Rockbridge Sub Re-Plat LT 34,35,52,54,55

$405,713 St. George, Matthew Boone County National Bank LT 162 Old Hawthorne Plat 2 CBT

"

Nelly Roach

Executive Director Caledon Virtual

VISIT US columbiabusinesstimes.com/advertise

76 \\\ June 2014

$1,051,000 NI Properties LLC Enterprise Development Corp.

LT 301 Wingate South Condominium

Economic Index ›› It’s all about the numbers Labor: Columbia labor force March 2014: 100,284 March 2013: 97,518 Columbia unemployment March 2014: 4,982 March 2013: 4,667 Columbia unemployment rate March 2014: 5 percent March 2013: 4.8 percent Missouri labor force March 2014: 3,035,540 March 2013: 2,994,890 Missouri unemployment March 2014: 223,434 March 2013: 207,041 Missouri unemployment rate March 2014: 7.4 percent March 2013: 6.9 percent

Construction: Residential building permits March 2014: 138 March 2013: 157 Value of residential building permits March 2014: $20,792,242 March 2013: $33,455,645

Commercial additions/alterations March 2014: 17 March 2013: 21 Value of commercial additions/ alterations March 2014: $6,290,709 March 2013: $2,504,842

Housing: Single-family homes sales, Boone County March 2014: 137 March 2013: 157 Single-family active listings on market, Boone County March 2014: 732 March 2013: 678 Single-family homes average sold price, Boone County March 2014: $195,083 March 2013: $179,950 Single-family home median sold price, Boone County March 2014: $162,000 March 2013: $163,000 Single-family homes average days on market, Boone County March 2014: 89 March 2013: 77

Detached single-family homes March 2014: 75 March 2013: 37

Single-family pending listings on market, Boone County March 2014: 237 March 2013: 215

Value of detached single-family homes March 2014: $16,923,587 March 2013: $7,418,633

Utilities:

Commercial building permits March 2014: 19 March 2013: 23 Value of commercial building permits March 2014: $7,873,421 March 2013: $3,647,842

Water March 2014: 47,064 March 2013: 46,147 Change #: 917 Change %: 2 percent Electric March 2014: 47,707 March 2013: 46,771 Change #: 936 Change %: 2 percent CBT columbiabusinesstimes.com /// 77

New Business Licenses ›› Columbia residents and their upstarts

Our Partners...

The Tiger Home Team “We realize the value of teamwork – for ourselves, our clients, & our community. By working together, Columbia will be stronger and healthier for all of us.”

Accurate Leak Locators 601 Building 6 W. Nifong Blvd., Suite C Up Home inspections for insurance purposes Advanced VIP Medspa 2800 Forum Blvd., Suite 4 Medical spa services Ashley Steinbeck 2024 Cherry Hill Drive, Suite 103 Hair salon services and retail sales

The Tiger Home Team is making a donation to the Heart of Missouri United Way for every home sold in 2014!

573-446-6500 ColumbiaMORealEstateGroup.com “It’s not about the roofs; it’s about the people we serve.”

Biz Pet 206 Willow Way Drop/ship e-commerce sales of pet supplies online Boone Olive Oil Co. 20 S. Ninth St. Oil and vinegar sales CCI Builders & Developers Outside Boone County Construction, remodel

(573) 445-4770 • explormanor.com

are community partners.

To become a member of the LU365 Small Business Circle visit uwheartmo.org/live-united-365 78 \\\ June 2014

Clay & Son LLC 2311 Live Oak Lane Handyman, power wash, lawn care, tree trimming, gutters and snow removal Crazy Clean 502 Scott Blvd.

Cleaning company D-Tap – The Drug Test Awareness 601 W. Business Loop 70, Suite 110 Drug and alcohol testing and background screening

Fast Yeti Tees 2703 E. Broadway, Suite 226 Custom-printed apparel Great Clips 1305 Grindstone Parkway, Suite 103 Franchise no-appointment hair salon Healthier Alternatives 601 W. Business Loop 70, Suite 134 I Classes, training on young living oils Hightech Signs Outside Boone County Sign manufacture and installation Honey’s Boutique 1109 Range Line St., Suite A Clothing, jewelry, shoes, purses, lingerie Ice Chalet – Budget Trucks 1100 W. Business Loop 70 Truck rentals Impact Signs Awnings Wraps 18 E. Business Loop 70, Suite A Signs sales and services JKT Construction and Design Unknown General contractor K&S Associates Inc. Outside Boone County General contractor KA Berendzen Construction LLC Outside Boone County Concrete and general construction

Laura McMurry, MSW, LCSW 601 Building 5 W. Nifong Blvd., Suite A Mental health counseling and clinical social work Ozark Fire Sprinkler Outside Boone County Fire sprinkler installs, service, repair Pigeons Painting Co. 415 Sanford Ave. Residential and commercial painting R Studios 2024 Cherry Hill Drive, Suite 103 Hair salon/rental for independent contractors Real Deal Real Estate LLC 109 Pershing Road Real estate investments and non-commission sales Robart Esthetics 2800 Forum Blvd., Suite 4 Spa, performing hair removal and facials Salon Shorte 600 Cooper Drive N., Suite 101 Hair salon Star Quality Events and Creations 5307 Silver Mill Drive Event planners and coordinators Steckel PC 809 Brett Place Computer repair 360 Health 2902 Forum Blvd., Suite 100 Health services CBT

By the Numbers ›› Boone County statistics

They say home is where the heart is. Whether you rent or own, here’s a look at every Columbian’s favorite place: their home.

Industry professionals, by type: Source: Missouri Division of Professional Registration, Boone County

46 26 2 111 28 32 architects land surveyors

landscape architects

Mortgage status:

72.1% 27.9%

Source: Missouri Division of Professional Registration, Boone County

12 31 7 1 90 35

without a mortgage

architectural corp.

Source: 2008-2012 American Community Survey Five-Year Estimate

Year structure was built:

engineering corp.

land surveying corp.

Rooms per structure: 2%

0.4% 6.5%

6.8%

Carroll Wilkerson, CFP®

Industry corporations, by type:

with mortgage

2.2%

real estate real estate real estate brokers appraisers- appraisersGeneral residential

real estate corp.

Occupied housing units:

2.7%

14% 25.2%

real estate assoc.

landscape architect corp.

9.3%

8.2%

12.7%

Have you planned for what could go wrong?

48.4%

18.8% 10.5% 51.6%

18.9%

13.4%

14.7%

13.9%

19.7%

2010 or later

2000-2009

1990-1999

1

2

3

4

1980-1989

1970-1979

1960-1969

6

7

8

9+

1950-1959

1940-1949

1939 or earlier

5

Owner-occupied Renter-occupied

Source: 2008-2012 American Community Survey Five-Year Estimates

47,069 total housing units

Value of owner-occupied units: 25

Source: 2008-2012 American Community Survey Five-Year Estimates

1

2

3

4+

PERCENTAGE

Household size per 100 households:

5.3

$25,888 (mean)

Construction & extraction

1,429

$25,082

Installation, maintenance & repairs

588

$37,583

Building & grounds cleaning & maintenance

1,709

$15,195

PERCENTAGE

Median Earnings

2.4 0.3

Less than $50,000

$100,000 to $200,000 to $500,000 to $149,999 $299,999 $999,999 $50,000 to $150,000 to $300,000 to $1 million $99,999 $199,999 $499,999 or more

573.875.3939 • WRWEALTH.COM

Gross rent:

30

Source: 2007 Survey of Business Owners, American FactFinder, Columbia, MO

903

FIND A BETTER WAY:

10.1

35

Industry employment, by category: # Employees

Higher Inflation Outliving your Assets Higher Living Expenses Volatile Markets

23.2

11.4

10

0

Category

• • • •

15

5

Real estate, rentals & leasing

24.6

22.7

20

Source: 2008-2012 American Community Survey Five-Year Estimates

Jared W. Reynolds, CFP®

32.4

31.6

25 20 17.9

15 10

10.1

5 0

0.3 Less than $200

5.7

1.9 $200 to $299

$300 to $499

$500 to $749

$750 to $999

$1,000 to $1,500 or $1,499 more

Source: 2008-2012 American Community Survey Five-Year Estimates

columbiabusinesstimes.com /// 79

6 Questions

➜ 201 Switzler St. Columbia, MO 65203 573-443-2556

›› Get to know your professionals

A Place to Call Home

Phil Steinhaus, CEO, Columbia Housing Authority

2. Can you explain the Housing Choice Voucher Program?

In the 1950s, Urban Renewal allowed cities to replace unsanitary and poor living conditions with new public housing units. Unfortunately, concentrating the poorest of the poor in the same location didn’t work very well, and often these public housing units were constructed in areas that didn’t have good access to jobs, transportation, schools and goods and services. In the 1970s, the Housing Choice Voucher Program (known as “Section 8”) was implemented to replace the public housing program.

The HCV program issues a housing voucher to an income-eligible family. The family can then use the voucher to rent housing from the private market. This allows the family more choice in the location of their housing (near work, school, family, transportation, etc.) as well as achieving the purpose of de-concentrating poverty in the community.

Fun Fact: 80 \\\ June 2014

Photo by Anthony Jinson.

1. What does your job entail on a daily basis? I oversee the operations of the Columbia Housing Authority, which includes the public housing and the Housing Choice Voucher programs, our extensive Resident Services and Family SelfSufficiency programs and our Affordable Housing Initiative.

3. It seems like there are often misconceptions about Section 8 housing programs, particularly involving crime and poor property maintenance. What does CHA do to dispel these misconceptions? The CHA works very closely with the Columbia Police Department and the Boone County Sheriff’s Department to identify any persons involved in violent or drug-related criminal activity who are receiving housing assistance or using the address of someone receiving housing assistance. We have a very strict Crime-Free Housing Addendum and will terminate housing assistance for violations. To ensure good property maintenance, we inspect all assisted properties on an annual basis.

Perhaps the biggest misconception about the Housing Choice Voucher Program is that certain neighborhoods are “Section 8 housing.” Because it is a voucher program, there is no specific housing or areas associated with a housing voucher. Any rental housing neighborhood can have a mix of assisted and non-assisted households.

4. How large is CHA’s staff?

The CHA has 56 full-time employees and 18 part-time employees.

5. What do you wish Columbians knew about the CHA and its programs?

Everyone wants to live in a safe neighborhood. Over the past eight years, I’ve worked hard to make our public housing neighborhoods safe while also expanding our Resident Services and Family Self-Sufficiency programs to give families the opportunity to work their way out of poverty. More than half of the people living in our public housing family sites are children under age 18. These children deserve to live in safe neighborhoods and have the chance to develop into productive adults.

6. How many people utilize Columbia Housing Authority’s services each year? In 2013, the CHA served the following number of families: public housing: 1,575 persons in 839 households and 264 families, which included 557 children; Housing Choice Voucher Program (Section 8): 3,441 persons in 1,317 households and 788 families, which included 1,754 children. CBT

➜ CHA Fxxxxopened its Housing Choice Voucher waiting list for one week in September 2012 and took more than 1,500 applications.

ADVERTISER INDEX Accounting Plus...............................................83 ACT Inc..................................................................18 Anthony Jinson Photography..................... 12 Caledon Virtual.................................................. 15 Carpet One...........................................................4 Child Care Aware............................................. 72 City Of Columbia Water & Light...................5 Commerce Bank............................................. 33 Data Comm....................................................... 33 Designer Kitchens & Baths.......................... 74 Evans & Dixon Llc.............................................9 First Midwest Bank..........................................20 Fry-Wagner Moving And Storage.............. 72 GFI Digital............................................................. 31 Harper, Evans, Wade & Netemeyer........ 67 Hawthorn Bank.................................................84 Healthlink............................................................ 32 Heart Of Missouri United Way................... 78 Hub&Spoke.........................................................61 Jazzercise..............................................................6 KMIZ..................................................................22,31 Landmark Bank...................................................2 Massage Envy / European Wax Center..................................................67,36 Mayecreate Web Design...............................10 McAdams Limited............................................14 Mediacom............................................................ 13 Mid-City Lumber Co................................. 77,81 Midwest Block & Brick....................................16 Midwest Computech......................................18 Missouri Employers Mutual.......................... 11 Moresource Inc...................................................7 Naught Naught Insurance Agency..........26 Room 38.............................................................. 22 Socket......................................................................8 Starr Properties................................................ 32 State Farm Insurance Stephanie Wilmsmeyer................................26 Superior Garden Center/ Rost Landscape...............................................26 Tech Electronics..............................................20 The Bank Of Missouri.....................................34 The Olde Un Theatre..................................... 74 University Of Missouri Health Care............3 Visionworks........................................................ 77 Watkins Roofing................................................ 31 Wilkerson & Reynolds Wealth Management.....................................79

It’s possible A beautiful deck “Let’s go sit on the deck and enjoy this beautiful weather.”

You’ll say that often this summer, so talk with the “deck experts” at Mid City Lumber about adding affordable, low maintenance decking to your home, then relax and enjoy the compliments, and the weather!

4709 Paris Road • Columbia, MO • 573.474.9531

www.midcitylumber.com columbiabusinesstimes.com /// 81

Flashback ›› Then and now

➜ The Columbia business landscape is always evolving, but it’s important to remember our historical roots.

By Steven Benna Photo by Kendra Johnson

Before its closing in 1999, the Missouri Bookstore held a rich history that dates back to the early 1900s.

In 1909, the bookstore was opened by brothers R.E. and Boyd Lucas as the Missouri Store Co., which had a restaurant, coffee shop and sold classroom furniture and teaching supplies to public schools in Missouri. It did not sell any textbooks.

After the bookstore’s first 15 years of operation, the University of Missouri purchased the store from the Lucas brothers, only to tear it down and build Ellis Library. But the Lucas brothers used the money from the sale to build

the Missouri Bookstore at 909 Lowry Mall. This location actually included a bookstore, along with a restaurant and a coffee shop. In the early 1960s, a lobby was added to the building. The lobby was later turned into a McDonald’s.

In 1973, the Missouri Store Co. changed its name and officially became known as the MBS Textbook Exchange Inc., which owned the Missouri Bookstore.

Twelve years later, in 1985, investors Bob Pugh, Dan Schuppan and Leonard Riggio purchased the bookstore. Pugh became the CEO of MBS, and Schuppan became the new president.

Both men still hold the same positions.

When the University Bookstore moved from Memorial Union to Brady Commons, troubles arose for the Missouri Bookstore. The added space allowed the University Bookstore to compete, and the Missouri Bookstore’s market was in decline.

The Missouri Bookstore at Lowry Mall officially closed its doors in 1999. MBS Textbook Exchange as a whole, however, is expanding its services. The company has an industry-leading inventory of new and used books, according to its website, and it offers a variety of options including book rentals, sales and buybacks and an ebook program. CBT

➜ We love Columbia business history. If you have any interesting photos and stories, please send them to Editor@BusinessTimesCompany.com 82 \\\ June 2014

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Real Estate Broker Palmer & Associates

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