Greenwood City Council approves $18 million incentive for Cabela's

Daily Journal of Johnson County

The Greenwood City Council voted Monday night to approve an $18 million incentive for outdoor retailer Cabela's.

Council members Bruce Armstrong and Ron Bates voted against the incentive.

Armstrong has raised concerns about whether the store, which will be accompanied by a water park and resort and is expected to draw further retail and restaurant business to the area, will truly be a destination.

Bates wanted the package to include a provision that would prevent Cabela's from building another store within 100 miles. When that request failed to get any support from fellow council members, Bates proposed a 75-mile radius. That, too, failed.

The package works like this: Cabela's Inc. will purchase $18 million in bonds, generating $18 million to be put in a fund and paid out to Cabela's retail store division to begin site work and construction of the building. As Cabela's and other new development in the area pay property taxes, the money will be used to pay back the bond.

The outdoor retail shop will be built at the southeast corner of Interstate 65 and County Line Road.

City officials spoke in favor of the development, calling it the best project to come to Greenwood in a decade.

Five residents spoke against the incentive, and several others spoke in favor.

The package was opposed by nearby retailer Gander Mountain. Gander Mountain's development company hired a consultant to fight the Cabela's incentive.