Council approves lease agreement with Bass Pro

A total of eight people addressed city council members July 13 during a public hearing before the council officially approved a $45-million, 20-year lease agreement with Bass Pro Shops.

One by one, they asked questions to the council, and city attorney Dennis Triggs answered during the nearly hour-long hearing in the packed city hall.

One of the most popular questions was made by Tom Hulting of East Peoria, who also appeared to be the angriest about the business coming to town.

“Will Bass Pro guarantee the lease payments will meet the bond debt payments?” asked Hulting.

“Absolutely not,” answered Triggs.

“That’s pretty scary,” Hulting quickly shouted back.

Hulting also asked if the business fails, could it fall back on the taxpayers of East Peoria.

“Every development the city has ever done, to the best of my knowledge for over 25 years, where they have issued a debt instrument in order to spur development, could fall back on the citizens,” Triggs said, adding that the debt will be paid for through sales tax of the business. “Bass Pro usually doesn’t meet the debt payment because there are other sources of revenue that service the debt.”

The council announced in May that the 145,000-foot outdoor shop will be built on the 35-acre site once known as the CILCO Ash Pond north of the Murray Baker Bridge. The city will own the building, road and parking lot. It will then be leased to Bass Pro Shops.

Triggs said he anticipates closing the $45-million in general obligation bonds by Aug. 30.

Since the announcement, there has been “significant” interest from other retailers, according to Triggs. The business is seen as a catalyst for additional economic development in the city.

There were dissenters from out of town who addressed the council, too.

Tim Presley, owner of Presley’s Outdoors in Bartonville, expressed his frustrations about the soon-to-be competitor locating close to his business.

“I despise Bass Pro coming to this town,” he said. “Why do you people from city of East Peoria or anybody else get involved with private business?”

Presley added his business, opened since 1946, is a family oriented business.

“Why are you taking this risk?” he asked.

Responded Triggs, “It’s a good question. ... Perhaps all of us could lament that government — whether it’s federal, state or local — should  not get involved in economic development; however, those places that don’t seem to struggle to get very much done.

“I understand why you’re here. But East Peoria would look totally different than what it looks today if there was not some reasonable risk taking and some involvement of the municipality in private enterprise, whether it’s the Embassy Suites, Riverside Center, Walmart, Lowe’s ... Kohl’s. ...So why do cities get involved? It seems to be how you get things done.” 

Triggs said every time he hears of a Bass Pro failing, he calls and inquires about the situation. Those foreclosure claims have included Prattville, Ala., and Mesa, Ariz.

“I can’t find anybody with any objectivity,” he said. “I don’t believe a Bass Pro store has ever closed.”

Wanda Johnson of East Peoria was concerned about a different part of the development.

“I want to know how much of Riverfront Park is going to be taken for this road,” said Johnson.

“More than we’d like, for sure,” Triggs answered, adding that from day one the city has tried to minimize losing the park.

In fact, Triggs said the park is going to be much larger after development because it is going to extend the entire length of the river on the north side of the interstate.

“I think we’re going to make it an active park,” he said, adding the veteran’s memorial will be seen by more visitors.

Also, there have been talks about building a possible bird migratory on the delta near Bass Pro.

After letting each individual speak, the council unanimously approved the lease agreement.

The lease includes a 20-year agreement with renewable terms and disincentives to located another Bass Pro within 90 miles.

The city will be responsible for structural maintenance, while Bass Pro will be responsible for routine maintenance.

The 37-page long lease is available for public inspection.

“The reality of business today, at least to begin development, government seems to need to get involved. ... I think East Peoria has a strong track record, Bass Pro has a strong track record, and I believe this is a game changing, positive development for our community,” said commissioner Gary Densberger.