Bass Pro Shops has pushed back development of its Memphis, Tenn., location at the vacant Pyramid following a bond resolution approved yesterday by Memphis City Council that financially expands plans for the property and the surrounding tourism district.
In addition to the $63 million the city of Memphis previously committed to seeing the Bass Pro deal through, the council unanimously approved the resolution, allowing a $75 million buyout of the county's interest in the Memphis Cook Convention Center, a $15 million purchase of a concrete facility near the Pyramid and $25 million to prepare the Pyramid and the land adjacent to the Wolf River Harbor for the threat of seismic activity, according to an article from Memphis Daily News
Last year, Bass Pro had planned to open its Memphis location as early as November 2011, but has set a new opening date of Aug. 1, 2013. Bass Pro and the city of Memphis had been negotiating for about five years before announcing the location would be built, according to Springfield Business Journal archives
With the bond resolution purchases, the city would gain control of the Tourism Development Zone, allowing it to pay debt owed to Bass Pro for the Pyramid location, according to the article.[[In-content Ad]]