PHOTO BY MICHELLE OWNBEY
The new owner of 302 E. Adams St. is seeking TIF assistance to help with renovations to the building.
Mike Alwood retired from CWLP last fall, but he has already taken on a new career and is now preparing to renovate a historic building downtown to house his office.
Alwood, a U.S. Navy veteran, began working as a lineman for CWLP after his military service ended. After more than three decades, he retired as a job foreman in September 2024. During his time at CWLP, he had served as co-chair of the city's Joint Labor Management Health Care Committee as well as on the city's deferred compensation board. Following his retirement from CWLP, Alwood founded a consulting firm, ATOLLetc, LLC, that now works with Springfield School District 186 and other organizations on their health care programs.
Alwood recently purchased the building at 302 E. Adams St. and plans to use the ground floor and basement for his own office.
"I'm tired of working out of my dining room table," he said at a July 9 meeting of the city's Economic Development Commission where he presented an overview of his proposed project. "I also hope to hire two employees in the near future."
The second and third floors would be converted to apartments. "I have commitments for long-term tenants for both floors; state legislators have expressed an interest in renting the apartments when they're ready," Alwood said.
Alwood told the EDC that he purchased the property for $200,000 and plans to spend an additional $500,000 in renovations. He is requesting $182,979 in TIF funding to help with the cost of new windows and a fire main extension to allow for a sprinkler system, which is required to comply with a previous city ordinance.
The building previously housed Templegate Publishing, a religious book publisher, but has been vacant for nearly three years. It was initially purchased by Lexah Inc., an entity controlled by Martin and Laurie Haxel. The couple operates their own businesses, Haxel Law and Haxel Consulting, out of 310 E. Adams St. and over the past five years they have acquired four adjacent properties.
The Haxels' most recent project is a former bank building at the corner of Fourth and Adams streets, which has been vacant for more than 30 years. Earlier this year, the Springfield City Council approved TIF assistance to offset some of the costs of their planned $3 million renovation.
In light of their current commitments, Laurie Haxel told SBJ that it made sense to pass on 302 E. Adams St. to someone who was in a position to begin work sooner.
"Mike and Kathleen (Alwood) expressed an interest in purchasing and beginning renovations right away, so we sold to them," she said.
"I love historic buildings and rehabbing old places," said Alwood, who noted that the building has retained many of its original features.
The EDC unanimously approved the TIF request, although the commission's recommendation is non-binding. It is scheduled to be on first reading at the Aug. 6 City Council meeting.
