The Des Moines City Council will consider a request today from a computer software firm that plans nearly $700,000 in improvements to a historic downtown building that is part of a Kum & Go LC redevelopment project south of the John and Mary Pappajohn Sculpture Park.

Pillar Technology LLC seeks $40,000 as the city’s contribution to the Iowa Economic Development Authority’s High Quality Jobs tax incentive program. Under the program, local communities are asked to make a contribution of up to 20 percent of the state tax incentive.

According to a report to the council, Pillar Technology could qualify for $200,000 in state incentives.

Pillar Technology is a high-tech computer software firm with 150 employees and facilities in Columbus, Ohio, Ann Arbor, MIch., and Palo Alto, Calif. The company is considering opening a new Iowa regional facility at 1420 Locust St. that would employ up to 49 technology staff members over the next three years paying an estimated average of $81,000 per year, according to the report.

Pending approval of the financial assistance packages, the company plans to lease 7,600 square feet of office space at 1420 Locust. The company estimates a capital investment in tenant improvements, computer hardware and software, furniture and fixtures of approximately $675,000, according to the report.

Additionally, Pillar Technology is considering the creation of a venture capital fund to work in tandem with the potential new location as part of its effort to be a leader in the region and the state’s high-tech industry, according to the report.

Kum & Go LC’s Locust Street Investments LLC paid $825,000 for the property in January 2013, with plans for an $8.4 million restoration of it and a neighboring building building at 1430 Locust and a parking lot between the two structures.