or login to your SBJ.net account
Forgot your password or username?
Search only accepts letters and numbers.
Bass Pro to receive $460K from Independence
Wednesday, February 22, 2012 5:28 AM
In a dispute over construction surcharge fees connected to a retail development outside of Kansas City, Bass Pro Outdoor World LLC will receive a court-ordered $460,519 from the city of Independence, according to a report today in
Springfield-based Bass Pro Shops anchors The Falls at Crackerneck Creek, a $170 million development in Independence, where city officials agreed to fund construction of Bass Pro’s Outdoor World store that opened in 2008.
Jackson County Circuit Court Judge Michael Manners this month ruled in favor of Bass Pro, saying the city is responsible to cover the new construction license surcharge fee on the store Bass Pro constructed with financing provided by the city, The Examiner said. Bass Pro officials brought the issue to the courts in August 2010, according to Missouri Case.net.
Independence city manager Robert Heacock told The Examiner the city hasn’t decided whether it would appeal the ruling.
The sum includes $38,889 for attorney fees and expenses. Springfield attorney Bryan Wade of Husch Blackwell LLP represented Bass Pro.
The deal structured in Independence is
similar to others
Bass Pro officials secured throughout the country in the mid-2000s. In Council Bluffs, Iowa, and Broken Arrow, Okla., the cities agreed to finance store construction, often more than $20 million, and serve as landlord in exchange for millions of dollars in sales tax receipts and millions of visitors annually. In the deals, Bass Pro promised store sales between $30 million and $50 million and 2 million visitors a year. The cities would receive between roughly 2 percent and 3.5 percent sales tax from the stores, usually set at a minimum of $1 million a year, and have a long-term tenant, often set at a 20-year term.
The original development agreement required Bass Pro to open a hotel by 2010, but the 150-room property has not materialized, according to the
Kansas City Business Journal
Please fill out the form below to submit a comment. Your comments may be used in Springfield Business Journal’s print editions, along with your username and/or registered name.
Message is a required field.
Captcha entry is not valid, please try again.
A comment must be approved by our staff before it will displayed on the website.
SEARCH SPONSORED BY
New owner has mixed-use plans for Missouri Hotel
Taney County restaurant operator indicted for tax evasion
Trump nominates new Labor secretary
Delta bringing back free meals
Say goodbye to this classic Monopoly token
Samsung heir arrested in corruption scandal
Trump rails against media in press conference
Cabela's gun sales taper off
Wine Review: ’Tis the season for specialty wines
UnitedHealth accused of overcharging Medicare
Opinion/Letters to the Editor
© 2017 Springfield Business Journal, Springfield, Missouri. All Rights Reserved. To contact SBJ, call (417) 831-3238.