Bridgeport Mayor Bill Finch is trumpeting the release of next week’s agenda for the State Bond Commission, which will include the tax incremental financing deal that will allow Bass Pro Shops to locate on the long-neglected peninsula called Steel Point. “This is another key step in the development of Bass Pro Shops and Steelpointe Harbor,” said Mayor Bill Finch. “We hope to see the Bond Commission approve the financing for this project, which the City and Bridgeport Landing Development have worked so diligently on to move forward during my administration. If approved by the state, this development will mean jobs, revenue and economic growth for the City.”
The item, set for nearly assured passage next Friday since the governor sets the agenda, would okay the issuance of $22 million in tax-increment bonds by Connecticut Innovations Incorporated in support of the construction of a Bass Pro Shops retail facility and related improvements at Steel Point that will be paid off by sales taxes generated by the giant outdoor outfitter. The total cost is estimated at $68.5 million. There is also a $9 million in grant-in-aid funding to finance construction and infrastructure improvements.