YOUR BUSINESS AUTHORITY
Springfield, MO
A construction site for Bass Pro Shops in Tennessee has become a financial headache for the city of East Ridge.
According to an ABC affiliate in Tennessee, state officials have determined the city owes more than half-a-million dollars for the land. East Ridge bought the property in 1999 from the Tennessee Department of Transportation at 29 percent of the appraised value with the stipulation that the city would use it to build a fire hall.
When Bass Pro Shops purchased the land from the city, East Ridge was told they would need to pay back the remaining balance at the current appraised value.
A recent appraisal determined the city still owes $603,000.
Read more from ABC News Channel 9.
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