Archive for the ‘Riverfront Development’ Category
January 22, 2013
The City of Memphis has decided to go ahead with the Pyramid/BassPro/Pinch project to the tune of $192 million dollars. The following is from a 2011 article in the Commercial Appeal.
While acknowledging that the project carries risks, Memphis officials and financial planners say the deal to fund The Pyramid’s transformation into a Bass Pro Shopsdestination store has been structured to provide several layers of protection fortaxpayers.
Conservative estimates regarding the major financing component — state sales tax revenues from a Tourist Development Zone covering all of Downtown and the MedicalCenter district — indicate that there should be ample funds to repay bonds issued forthe project, they say.
The CA yesterday was filled with articles telling the taxpayers that they need Memphis and should not be afraid of becoming part of Memphis. Well I have been part of Memphis for years and have paid my fair share or more in taxes and I am here to say that I am fed up with the argument that we need to shell out more to save downtown and the fairgrounds and etc. etc. etc.
I would like to point out the millions and millions that have been wasted by past and even present administrations who have run the (more…)
My emails and website (memphisshelbyinform.com) have taken a two week vacation as my wife, my daughter, my son in law and I have been visiting relatives in various parts of Germany.
Germany is a beautiful and prosperous country and is the cornerstone of a somewhat shaky European union.