LovelandPolitics
| Loveland's Independent News Source |
| Bass Pro Cuts Bait on Centerra Says Insider |
Loveland - May 14, 2015
The Bass Pro Shops deal to locate a 117,000 square foot retail store in Loveland's Centerra is falling
apart according to a reliable source but McWhinney and city officials refuse to comment; at least
publicly.
LovelandPolitics has learned the relationship between the developer of Centerra, McWhinney and
the national outdoor retail chain Bass Pro Shops has soured in recent months. McWhinney is
reported to have angered Bass Pro Shops to the point of putting the project on hold while Bass Pro
completes due diligence on alternative locations outside the control and ownership of Troy and Chad
McWhinney.
Whether the two sides will reconcile their differences our source stated it was unlikely. "Troy
McWhinney has been handling this first hand after Jay Hardy left and the relationship has been
going down hill."
As the agreed upon deadline next month to start actual construction (also called 'first wall')
approaches no progress is being made. "They applied for a 90 day extension so they can blow past
the deadline without any consequences," our source explained. Now, Bass Pro Shops is said to be
"done" with the McWhinney brothers and instead scouted new locations they are negotiating terms
with the owners currently. Even if the store selects another site in Loveland they are likely to seek
public funding as an incentive for their store to locate in Loveland.
Local media has continued reporting the inevitability of the project as The Coloradoan published a
story just last Sunday stating,
"Site work on 15 acres that will eventually become Bass Pro Shops will begin Tuesday northeast of
the Interstate 25 U.S. Highway 34 exit in Loveland."
Instead, Bass Pro Shops notified McWhinney they would require an additional 90 days to begin but
are reported to have entered negotiations on an alternative site in Northern Colorado. Late last year
McWhinney announced the Bass Pro Shops construction would begin by Spring 2015 but with Spring
over in a matter of weeks people have begun asking questions.
Will Concessions Be Reversed?
It is unlikely the historic concessions made by Loveland's City Council early last year to McWhinney
via amendments to the developer's Master Financing Agreement (MFA) from 2004 will be reversed if
Bass Pro Shops pulls out. (see story describing the concessions)
After obtaining a letter of intent (LOI) by Bass Pro Shops, McWhinney then asked for amendments to
the MFA allowing money dedicated for regional transportation to be converted into improving
private property of McWhinney to attract the outdoor retailer. Among those concessions was an
amendment to the MFA allowing McWhinney to spend over $800,000 of metro district "public funds"
on improving their private property. The parcel sits below the surrounding area and thus requires a
sewage pump; which the Centerra Metro District is now funding. In addition, Loveland's City Council
declared the parking lot to be a "public good" thus worthy of public dollars to construct. Historically,
McWhinney was unable to use public dollars for parking structures or lots used and controlled
exclusively by for-profit companies like in the case of their failed Grand Station development.
Scheels sporting goods has announced they will begin construction on a 225,000 square foot store
across the street from the would-be Centerra Bass Pro Shops store to be located in the Johnstown
25/34 development. The official announcement celebration for Scheels is scheduled for June 3,
2015. If located outside a "urban renewal" authority, Scheels can generate considerable property
taxes for local schools, the Thompson emergency services (ambulance) and even Loveland's rural fire
authority.
The Bass Pro Shops deal to locate a 117,000 square foot retail store in Loveland's Centerra is falling
apart according to a reliable source but McWhinney and city officials refuse to comment; at least
publicly.
LovelandPolitics has learned the relationship between the developer of Centerra, McWhinney and
the national outdoor retail chain Bass Pro Shops has soured in recent months. McWhinney is
reported to have angered Bass Pro Shops to the point of putting the project on hold while Bass Pro
completes due diligence on alternative locations outside the control and ownership of Troy and Chad
McWhinney.
Whether the two sides will reconcile their differences our source stated it was unlikely. "Troy
McWhinney has been handling this first hand after Jay Hardy left and the relationship has been
going down hill."
As the agreed upon deadline next month to start actual construction (also called 'first wall')
approaches no progress is being made. "They applied for a 90 day extension so they can blow past
the deadline without any consequences," our source explained. Now, Bass Pro Shops is said to be
"done" with the McWhinney brothers and instead scouted new locations they are negotiating terms
with the owners currently. Even if the store selects another site in Loveland they are likely to seek
public funding as an incentive for their store to locate in Loveland.
Local media has continued reporting the inevitability of the project as The Coloradoan published a
story just last Sunday stating,
"Site work on 15 acres that will eventually become Bass Pro Shops will begin Tuesday northeast of
the Interstate 25 U.S. Highway 34 exit in Loveland."
Instead, Bass Pro Shops notified McWhinney they would require an additional 90 days to begin but
are reported to have entered negotiations on an alternative site in Northern Colorado. Late last year
McWhinney announced the Bass Pro Shops construction would begin by Spring 2015 but with Spring
over in a matter of weeks people have begun asking questions.
Will Concessions Be Reversed?
It is unlikely the historic concessions made by Loveland's City Council early last year to McWhinney
via amendments to the developer's Master Financing Agreement (MFA) from 2004 will be reversed if
Bass Pro Shops pulls out. (see story describing the concessions)
After obtaining a letter of intent (LOI) by Bass Pro Shops, McWhinney then asked for amendments to
the MFA allowing money dedicated for regional transportation to be converted into improving
private property of McWhinney to attract the outdoor retailer. Among those concessions was an
amendment to the MFA allowing McWhinney to spend over $800,000 of metro district "public funds"
on improving their private property. The parcel sits below the surrounding area and thus requires a
sewage pump; which the Centerra Metro District is now funding. In addition, Loveland's City Council
declared the parking lot to be a "public good" thus worthy of public dollars to construct. Historically,
McWhinney was unable to use public dollars for parking structures or lots used and controlled
exclusively by for-profit companies like in the case of their failed Grand Station development.
Scheels sporting goods has announced they will begin construction on a 225,000 square foot store
across the street from the would-be Centerra Bass Pro Shops store to be located in the Johnstown
25/34 development. The official announcement celebration for Scheels is scheduled for June 3,
2015. If located outside a "urban renewal" authority, Scheels can generate considerable property
taxes for local schools, the Thompson emergency services (ambulance) and even Loveland's rural fire
authority.
| Sewer lift station (example only) like the one the City of Loveland agreed McWhinney could build on their own property using public funds in anticipation of Bass Pro Shops building on the parcel |
