Once Upon A Time ...

This is my favorite quote from today's joint City Council/County Commission meeting about the future of the Pyramid.

"Give us the building, let us sign a deal with Bass Pro and live happily ever after," said Councilwoman Barbara Swearengen Ware.

The County Commission recently rejected a proposal to sell its share of the Pyramid (along with the coliseum and land under the Liberty Bowl) to the city. For the Bass Pro development deal to move forward, both the City Council and County Commission have to approve it.

The development agreement gives the retailer a year to sign a lease on the Pyramid.

This quote from City Council member Shea Flinn, who advocated blowing up the Pyramid if the two elected bodies don't agree to the proposal, was a close second:

"We had the Big Dig. Let's have the Big Boom," he said.

Gone Fishin'

In this week's Fly-by (that's the front section of the Flyer) Shara Clark has a story about the ongoing Bass Pro Shops negotiations for the Pyramid.

Now I'm not going to spoil the story — click here to read it — but under a preliminary development agreement, Bass Pro will be expected to pay $35,000 a month for use of the Pyramid.

As I understand it, the development agreement gives the city, county, and outdoor retailer a year to come to a lease agreement for the building. If it opts out after the development agreement is signed, Bass Pro will have to pay $500K in termination fees.

Here's what I don't fully understand: It costs local taxpayers $600,000 a year to keep the Pyramid dark. Even if Bass Pro pays $35,000 a month for 12 months, that's only $420,000.

Will it cost less to maintain and secure the building if Bass Pro is in a development agreement with the city and county? Are we taking a loss on the rent to give them an incentive to sign? Or are we just giving them a sweetheart deal?