Report: County considers Bass Pro's Memphis deal today

A development agreement that would bring Bass Pro Shops to The Pyramid in Memphis, Tenn., may have a tough time making it past the Shelby County Board of Commissioners this afternoon, Memphis Daily News reports.

The board is scheduled to vote today on the agreement, which last week received a negative recommendation from the commission's Economic Development & Tourism Committee. Some committee members opposed the deal, saying they doubted Bass Pro would meet all of the agreement's deadlines and revenue expectations because of current economic conditions.

The one-year agreement sets quarterly deadlines for the Springfield-based retailer and proposes new market tax credits and sales tax revenue from a Tourism Development Zone, according to the report. The city and county would have to put up $30 million if those funds come up short.

Memphis City Council already has approved the agreement. Shelby County owns part of The Pyramid and has opposed selling off its interest in the facility.

The $100 million project has been in negotiations for about three years. The development plan includes a 150,235-square-foot Bass Pro store, restaurants, an aviary and a museum. After the one-year development period and a two-year construction period, Bass Pro would pay at least $1 million annually to rent The Pyramid, which is the former home of the NBA's Memphis Grizzlies.[[In-content Ad]]