BY ANDREA HOLECEK and PAT GUINANE, Times of Northwest Indiana Staff Writers
HAMMOND | Cabela's proposed Hammond store remains in limbo, company spokesman James Powell said Tuesday.
"There are no new developments on the project in Hammond," he said. "It's in limbo until some type of agreement can be reached. We haven't received any final vote (from the state). We have no information on when we will."
Although the Indiana State Board of Finance met Tuesday in Indianapolis, it didn't discuss Cabela's request for State Tax Increment Financing or other types of incentives to help fund the $40 million in infrastructure improvements for the $95 million project on the former Woodmar Country Club site.
The issue had been tabled at the board's Nov. 30 meeting, and it was not brought up Tuesday by any of the board's three members -- the state auditor, state treasurer and director of the state budget agency -- Deputy Auditor Paul Lottes said. There are no requirements specifying when tabled items can or must be resurrected, he said.
Following the meeting, State Treasurer Tim Berry said he sees the Cabela's issue as one for the Indiana Economic Development Corp. The agency already has declined to recommend STIF financing for the Cabela's project, but is considering other types of incentives. Those incentives, which could include tax credits and training grants, don't need the approval of the Board of Finance.
"We continue to be hopeful that IEDC and Cabela’s will be able to work together," Berry said. "The more economic development in the state of Indiana, the better for all of us."
Auditor Connie Nass said the board has encouraged Cabela’s to meet with IEDC.
"I think they would be a good partner for Indiana," she said. "I hope that they can work together on incentives."
Budget Director Chuck Shalliol, a board appointee of Gov. Mitch Daniels as the administration’s representative, said he will be "guided by the IEDC's suggestions or recommendations."
.The Nebraska-based outdoors retailer spent $14 million to buy the almost 100-acre Woodmar site on the premise it would get the state's assistance for the project. Cabela's remains confident the money was well spent, Powell said.
"We still feel we've made a good investment, but for us to put a store there, a lot still has to be determined and worked out," he said.