Bass Pro President Jim Hagale and Memphis Mayor A.C. Wharton signed a
preliminary lease agreement at City Hall for a new store in the city. Bass Pro is aiming for a November 2011 opening.
The lease still must be approved by the Memphis City Council and Shelby County Commission. The state also has to gain Tourism Development Zone approvals, which would funnel sales taxes generated by the retailer to the project.
The city council will hear the proposal July 27.
The Bass Pro store in the Pyramid is part of a larger $100 million Memphis Gateway Redevelopment Project, which encompasses the Pinch District.
The Bass Pro lease agreement is for 20 years with options for seven renewal periods of five years each for the Pyramid, which has 265,740 square feet of space on 40 acres.
The project is getting $41 million in Federal Recovery Zone Facility
bonds and $27.7 million in Recovery Zone Economic Development bonds.
