Bass Pro finance package given final OK by Porter City Council

PORTAGE | The City Council put its final stamp of approval on a $17.5 million financial incentive package used to land mega sporting goods retailer Bass Pro Shops to the city's north side.

Without a single question or comment, the council Tuesday night unanimously approved floating $17.5 million in revenue bonds on the 15.5-acre development at AmeriPlex at the Port.

The bonds will be sold in one or two issues with the proceeds going to the company. They'll be repaid through property tax dollars collected in the tax increment financing district, which includes the business/commercial park.

The city also granted a tax abatement on the property last month.

In return, the city received a $2.5 million grant from the Indiana Economic Development Corp. to be used for infrastructure improvements to a proposed business park across Ind. 249 from AmeriPlex.

And, said Tim Healy, Holladay Properties senior vice president, his company already has begun work on the site, which is in the southwest corner of the park bordering Interstate 94.

DeBoer Egolf, of Portage, began work this week moving dirt to prepare for pouring the foundation pad. Once the pad is completed, likely the middle or end of this month, the site will be turned over to Bass Pro Shops to begin construction of the 130,000-square-foot store, which will not only sell fishing, hunting and sporting goods, but also will contain an aquarium, archery range and seafood restaurant.

Healy said the company also has been granted a foundation release from the state to begin the work.

The construction of Bass Pro is expected to generate 650 construction jobs and another 320 jobs when it is completed. The retailer has targeted Nov. 2 as a grand opening date for the Springfield, Mo.-based company's latest outlet.