UPDATE: The State Bond Commission on Friday approved a $31 million tax incremental financing package and urban development grant for the planned Bass Pro Shops store for the Steel Point redevelopment area on the East Side. The mega outdoor retailer is the first major tenant to sign on to the long-awaited 50-acre redevelopment area first proposed 30 years ago. Bass Pro website Bridgeport here.
The resolution on the Bond Commission agenda, controlled by Governor Dan Malloy, authorizes the issuance of $22 million of tax increment bonds by Connecticut Innovations Incorporated, a development arm of the state, in support of the construction of a Bass Pro Shops retail facility and related improvements at Steel Point. The total project cost is estimated at $68.5 million–$22 million financed from the proposed sales tax TIF and $9 million in grant-in-aid funding to finance construction and infrastructure improvements.
Infrastructure activity for the project is underway including the widening of Stratford Avenue, underground utility work and building of sidewalks. First proposed by Republican Mayor Lenny Paoletta in 1983, the redevelopment of the East Side across the harbor from Downtown Bridgeport has been a cynic’s dream of starts and stops during six mayoral administrations. The city and state rolled out the Bass Pro announcement in the summer of 2012. The scheduled State Bond Commission action with a major retailer poised for construction activity pushes the project much closer to reality. City officials project Bass Pro construction completion in 2015.
News release from Mayor Finch:
City officials today cheered the State Bond Commission’s approval of the $22 million tax incremental financing package and an urban development grant-in-aid for the planned Bass Pro Shops store on the Steel Point peninsula.
“This is a historic and pivotal moment in the economic development history of the Steel Point peninsula and the City of Bridgeport. The Bond Commission’s approval of the $22 million in TIF bonds and the urban development grant is a big step forward in the development of the planned Bass Pro Shops as the first retail tenant on Steelpointe Harbor. This is great news for the City and the developer–Bridgeport Landing Development LLC, which has worked diligently with my administration to move this project forward.”
“I want to thank both Governor Malloy for his strong support of this project and Connecticut Innovations for its thorough understanding of the project and confidence in placing it on the bond commission agenda. The bond commission’s approval means jobs, revenue and economic growth for the City,” said Mayor Bill Finch. “A project of this scale and complexity requires a strong partnership between the public and private sector. With this vote, the state, city, and BLD have demonstrated their collective commitment to bringing Steel Point to fruition.”
The Bond Commission authorized the issuance of $22 million of tax increment bonds by Connecticut Innovations Incorporated in support of the construction of the Bass Pro Shops retail facility and related improvements at Steel Point. The total project cost is $68,500,000–$22 million of which would come from the proposed sales tax TIF and $9 million in grant-in-aid funding to finance construction and infrastructure improvements.
Bass Pro Shops is the first tenant to sign on to the 50-acre development located across the harbor from downtown Bridgeport. Along with the infrastructure improvements currently underway, this marks another crucial step to realizing the City’s and the developer’s vision for nearly 3 million square feet of mixed-use development on the waterfront.
Also on the agenda and approved by the Bond Commission was $15 million allocation to the Department of Energy and Environmental Protection to establish energy microgrids in eight areas of the state to support critical municipal infrastructure, including $2.97 million for three 600kW natural gas turbines to provide electricity to City Hall, Police Headquarters and the City’s senior center, all located in the Golden Hill area of downtown.
“This microgrid project will work to prevent critical infrastructure–City Hall, Police Headquarters and our Senior Center from going offline during major weather events, which as a result of climate change, are occurring more frequently,” said Mayor Finch. “I applaud Governor Malloy for taking this bold step to initiate the Microgrid Pilot Program.
Statement from Congressman Jim Himes:
“I am extremely pleased that the State Bond Commission has approved this much-needed funding to help make our dreams of a revitalized Steel Point Peninsula a reality. After 30 years of delays and setbacks, this is exciting news for a project that will spur economic growth by cleaning up and rebuilding a neglected and previously polluted area that holds so much potential. Bass Pro Shops will create jobs and bring new visitors and interest to a section of Bridgeport that has been ignored for too long. I look forward to continuing to work with Mayor Finch, Governor Malloy, and the developers as we turn the page to the next stages of Steel Point’s evolution.”
This is extremely exciting. For those narrow-minded shortsighted people who see low-paying jobs, I see thousands of jobs in construction, plumbing, electrical and landscape design. I see 20 years of positive Public Relations for Bridgeport. I see cranes and life. I see the beginning of Bridgeport reclaiming its past glory. I see young people moving to a city and starting families believing this is the future. I see the lower East Main St. area being revitalized. The homes on Washington Park and all surrounding blocks being gentrified with most gorgeous Victorian homes being rehabilitated to their early glory. I see a Mayor fighting o keep his seat to be remembered for his ability to bring life back to Bridgeport and I see all of the negative people finally cheering the positive happenings in the City. I am hopeful and wish the City good luck on Friday. Congrats to Bill Finch and all who believe in Bridgeport. The best is yet to come.
I see Steve is back on something.
Hey Bob, when the smoke and mirrors disappears and this project falls apart, I wonder who Steve will blame.
Hey Bob and Mackey,
Steelepointe, Steelepointe, Steelepointe.
Now I will give you something to discuss. During the Fabrizi administration there was this very amazing press conference dog and pony show, starring Magic Johnson, John Ratzenberger and a who’s who of bullshit artists. The property was to be turned into retail housing and theaters. It was to play on the energy of the Arena and Harbor yard. It was going to continue Bridgeport’s forward movement downtown. Now the property located at 375 Main St. is being looked at for development to relocate Marina Village Housing. Is this what Economic Development Director David Kooris envisions for our city in partnership with the Bridgeport Housing Authority? I would advise Mayor Finch to do damage control immediately. This is not a matter of “NIMBY,” not in my back yard. This is a matter of protecting the homeowners in the area. The people who pay taxes and believed their area was due for gentrification. To put rental space/relocation units of Marina Village across from the arena and Harbor Yard could also destroy the positive influence these venues have taken so many years to fulfill. I support the residents of the South End. These units need to be market-rate housing. Nothing less would be acceptable. It took so many years to remove the Pequonnock Apartments. This is so typical of Bridgeport. For once can the city be on the same page and be visionary? To answer Bob Walsh and Ron Mackey, who will I blame if the project were to fall apart? Well, I wouldn’t blame Mayor Finch and I will not blame Marilyn Moore. It would be sad but it isn’t going to fall apart. Sorry to disappoint you guys.
Wow.
Kudos to team Bridgeport. A special thanks to the hard work put forth by Ed Lavernoich and Michael Nidoh. Both no longer with the city but their years of commitment to this project will be remembered by those who worked shoulder to shoulder in the Planning and Economic Development dept. A very good day for the entire Bridgeport delegation … And the city of Bridgeport.
Wouldn’t mind seeing affordable five-star restaurants. Wake me up when the shovels are in the ground, please.
Chosen 1, by that time the shovels will be over your head.
Chosen,
I missed your entry on this subject in previous reads.
Question 1 – How about sharing your list of AFFORDABLE FIVE-STAR restaurants within 40 miles of Bridgeport?
Question 2 – Do you think Bridgeport in recent years is an AFFORDABLE FIVE-STAR LOCATION for eatery promoters? (Is the City tax situation affordable for the business? Will there be enough patrons to support the venue and still make a profit?)
Question 3 – How long do your naps generally take?
Time will tell.
One step closer? Just ask Buffalo NY.
www .youtube.com/watch?v=yw57EB0l6p8
Thirteen years later and 30 million dollars, Bass Pro is still coming to Buffalo. Bridgeport is 1 of 21 Bass Pro future stores to be built sometime in 2015 or beyond.
Remember, this Letter Of Intent is only a Letter Of Intent. LOIs resemble written contracts, but are usually not binding on the parties in their entirety.
That $30 million is Buffalo taxpayers dollars. Bass Pro has yet to kick in a dime.
A Crummy Way to Treat Taxpaying Citizens
TIFs have been around for more than 50 years, but only recently have they assumed such importance. At a time when local governments’ efforts to foster development, from direct subsidies to the use of eminent domain to seize property for private development, are already out of control, TIFs only add to the problem: Although politicians portray TIFs as a great way to boost the local economy, there are hidden costs they don’t want taxpayers to know about. Cities generally assume they are not really giving anything up because the forgone tax revenue would not have been available in the absence of the development generated by the TIF. That assumption is often wrong.
Bob, Bass Pro Shops has hired their civil engineers to start the full construction drawings. This is a small but significant step. Now that the road and utility work on Stratford Avenue is well underway, other investors will get serious. Just keep in mind the City didn’t own the entire peninsula until mid 2007. So we are six years into the real investment phase. All that happened before 2007 was truly speculative. The development of the peninsula is becoming more real every day.
Nancy,
Please. Stop making excuses for deadbeat developers like RCI Marine. They should have been thrown out of the city years ago. But people like yourself keep making excuses for them rather than hold their feet to the fire and force them to perform. They have never met one deadline in the development agreement.
Enough is enough.
And the best you can say is Bass Pro Shop has paid for some hard development planning costs. Strip the development rights away from RCI Marine.
If the city would do that then I might actually believe something will happen.
Bob,
Finch threw out Vornado, Magic Johnson and Mid City Urban. I was actually glad he did that because Vornado took a huge hit during the financial crisis in 2008. Mid City Urban was plowing ahead for the housing component leaving the third entertainment venue in the mist. Housing should not lead the development of the arena area in my opinion. A third entertainment venue has to be recruited and put in place first so the important Harbor Yard area continues to grow as a regional economic generator. Finch didn’t throw out RCI Marine. So I am a realist and want progress to be made, step by step.
Sorry Nancy, I forgot you were part of the Magic Johnson show. I still have that magnificent marketing piece with the artist renderings and plans. It was a very exciting day. Sad it never came to fruition. It will be sad if Marina village relocation units go there. These are good people I am sure. I am sure the shootings and drug deals are from outsiders. If there is a shooting outside the Arena and Harbor yard will they ever survive?
The housing authority can take it to the people. The elected official who is a resident can take offense to the residents’ comments. Will she be first on the list to get a unit? I urge the City to find a developer with a vision and incorporate housing to hold up the Bridgeport Housing Authority requirement. Is downtown looking for change or will it move at a snail’s pace because the City continues to put obstacles in its way? If current developers like Kuchma do not sound off then I will totally support this effort and let the cards fall where they may. Maybe all the APTS will ultimately become section 8 housing downtown because it seems that is the direction the City will be going and the message that will be made. That’s what will support the new businesses downtown? I totally support affordable housing. I totally agree with improving the quality of life for all people. I just question the location, the timing and the plan. All South End residents should, also.
Nancy and Steve, stop drooling, poor Finch will have to start wearing an incontinence pad.
Jim, sorry. Usually I am pretty sharp but that comment went right over my head. 🙂 Not kidding.
How about drooling while giving head?
Is that something you can relate to?
I think Steve can see more than Stevie Wonder could ever see. The song remains the same in Bp Town, hooked bait, line and sinker.
To J. Fox, R. Mackey, B. Walsh et al.,
Developing dirty NE industrial cities is incredibly difficult as Nancy Hadley would confirm. Even if you can figure out the remediation, you still have to deal with higher energy, workman’s comp, unions, etc.
Bass Pro Shops looks much more likely it will actually happen but that’s not to say CT or BPT could not still lose out. I side with Hadley, this is actually starting to build some momentum. And I hope it makes it.
Reading your various opinions, it seems all of you take a perverse delight in hoping Bass Pro fails. And looking at the YouTube footage of Buffalo is misleading to say the least.
I am looking forward to a day in the Finch tenure or a future administration where you actually get behind something. Particularly Mr. Walsh who while a bright man did not bring any positive ideas to the table but instead delighted in savaging other ideas. I will stipulate a number of things needed savaging, however.
Sorry Denis OMalley, but you have not seen the least of it.
I sat on the City council and listened to residents begging to stop the evictions and the taking of property.
I witnessed representatives of the city’s legal and economic development offices lie to the public and treat these citizens like dirt just so Joe Ganim could gain control of these properties and so he could add to his corrupt practices.
You must be part of this same history of do-nothing administrations but take care of their friends.
Why does everyone on this blog HATE Bridgeport so much? Move out of the city if you hate it so much. You crabby old misers relish seeing Bridgeport fail. It’s SICK! Please leave. The city will be better off.
Dear BB,
I don’t think you fully comprehend the Love/Hate relationship here in Bpt. I can’t speak for everyone at OIB, but I am deeply saddened to see the death of a city I once loved. Political corruption drove a once-vibrant workplace into a Ghost Town.
Finally to address your question about leaving, nobody wants to buy my house in BPT!!!
*** LET’S FACE IT READERS, IN BPT SEEING IS BELIEVING. HOWEVER, SMALL STEPS FORWARD ARE BETTER THAN “NO” STEPS AT ALL, NO? *** TIME WILL TELL US ONE WAY OR ANOTHER IF IT’S THE SAME OLD POLITICAL SONG & DANCE OR IF THIS D/J IS SPINNING A NEW TUNE ALONG WITH A NEW DANCE! *** PRO BASS SLIDE, YO! ***
Denis OMalley,
I agree with you. I see step-by-step progress on Steelpointe. It is complicated, that is why everyone should be focusing on 2007 forward. No one anticipated the huge fiscal and housing crises that hit us in 2008-2009. It sucked the wind out of the economy.
There are many more market-rate housing developments in Downtown with a 10-15% percentage of affordable component; successfully I might add. Employers will not return jobs to Bridgeport until their employees live and are happy in Bridgeport. That is happening, slowly but surely. In the six years I have lived in the Downtown I have seen progress. Do I want to see more? You bet. However, it’s one day at a time. Bridgeport is not dead. Bridgeport is experiencing positive movement.
Kudos to the Administration and RCI Marine for finally getting the State Legislature/Bond Commission to agree to the sales tax Tax Increment Financing package that will help Steelepointe along. I am now looking forward to the announcement of the developer constructing the 3000-foot boardwalk around the peninsula and water side development. I want to walk around the peninsula starting from the Ferry Terminal.
Wouldn’t it be nice if Pitney Bowes headquarters operation, which sold its corporate building and announced they might leave Stamford, would land on the Steelepointe peninsula? A gal can dream, can’t I?
Hate Bridgeport? I do not hate Bridgeport.
I get sick to my stomach when I think about all the lost opportunities this city has had because it allows politics to play too important a role in economic development.
There is such a parochial mindset among the so-called developers and so-called business leaders who would rather see projects fail in order to protect their little piece of the fiefdom. These people hate Bridgeport but tolerate it enough as long as they can make more money off it.
*** Pitney Bowes, G.E., etc. just to name a few would be nice in Southern Fairfield County to get things started right, no? Hell, even a small State Gov’s Office would be nice to keep tabs on all the State money coming into Southern CT. *** WISHFUL THINKING ***
Denis OMalley and BridgeportBooster,
For the record, in the mid ’90s the company I worked for relocated to Michigan. I was offered the opportunity to relocate. I was given a job guarantee of three years. I was guaranteed I would not lose money on the sale of my house. I was guaranteed relocation money. I was guaranteed comparable housing in Ann Arbor or else the company would make an interest-free loan to make up the difference.
I have proven my loyalty to this city. You two won’t even use your real names on the blog. For what? Fear of retribution for being too nice to the Finch administration?
Denis OMalley and BridgeportBooster,
I have nice song for you guys.
www .youtube.com/watch?v=kC7yDr0cPUQ
Sonny Fox needs serious meds.
Lennie, like meds from Dr. Conrad Murray, a propofol and benzodiazepine mix?
Bob,
I am not and never was a part of the city administration and not using my name as you do (which I respect) is because it keeps stress off family and friends. Not the bravest but so be it. At least this way I can express opinions.
I have never questioned your loyalty to the City and respect the time you put in on the Council. It’s just for quite a few years, you seem to be relentlessly negative about just about everything tried by any administration.
My earlier point and your cynicism from past wrongs notwithstanding, can’t we hope maybe something moves forward like BPS?
If anybody should be frustrated, it would Nancy Hadley and she is positive on things moving forward. Maybe not perfectly but forward nevertheless.
Let’s get real, gang. The Bass Pro operation is going to provide shoppers easy exit on and off the highway, buy their hunting and fishing gear and leave. No one is going to stop downtown (parking) to eat or buy a house. Just look at the history of the past three assholes who called themselves the Mayors. They controlled the City development, with no results. The only person who had some impact on the City was Mike Freimuth.
MAGOO makes an interesting point and opens the door to another conversation. Mike Freimuth has demonstrated his ability to get major developments off the ground without major fanfare. What’s more, there has to be some conflict of interest with David Kooris running for political office in Stamford. This cannot benefit Bridgeport. So far this administration has had a very questionable track record with Economic Development directors. This could pose a problem for the Mayor. Our development director serving the City of Stamford? Yeah that’s going to benefit the City. Not!!! This is a joke.
MAGOO, you said, “Let’s get real, gang. The Bass Pro operation is going to provide shoppers easy exit on and off the highway, buy their hunting and fishing gear and leave. No one is going to stop downtown (parking) to eat or buy a house.” Well MAGOO, “Steve” Wynn with companies like the Golden Nugget, The Mirage, Treasure Island, Bellagio, Wynn told the business leaders, the taxpayers and the politicians the same thing, if he got the rights to build a casino in Bridgeport he could NOT get people to leave his casino to go downtown and spend their money there.
Steelepointe will be a destination. There will be a lot more than just Bass Pro. People will continue to discover downtown as 100s of thousands discover Bridgeport via Steelepointe.
Regarding the 2005-2007 history of the Harbor Yard Area development, the Bridgeport Housing Authority (Nick Calace), OPED (me) and the Bridgeport Economic Resource Center (BERC–Kevin Nunn) issued a Call for Developers for the 10+ acres which included the two parking lots, the triangle in front of the Arena, the parking lot next to the ball field, the ferry boat parking lot south of the tracks and the two small parcels on Broad Street across from the large parking lots. Lots of interest because we had a sizable chuck of developable land within eyeshot of Metro North and I-95. Great teams; great interest; deep pockets. The size was big enough to plan and finance a great mix of entertainment, office, housing and I think a small hotel like a Residence Inn or Homewood Suites. The Agreement was signed by all three parties, BHA, City and BERC. There was no question Vornado, Magic Johnson Enterprises and Mid City Urban presented the strongest vision, clear market studies, deep financial pockets and a willingness to move forward. Yes, my concern was I didn’t want the standard Magic Johnson movie theaters to go in as the third entertainment venue. Not creative enough. I was pushing for a Dave and Busters or ESPN Zone; something New Haven or Stamford didn’t have. Then my term with the City ended in January 2008. The huge financial crisis and real estate bust happened. Vornado lost a significant part of their portfolio nationwide. So Mid City Urban tried to move ahead with the housing component with a large affordable component. Not wise. The regional visitors are comfortable now with the Arena and Ballfield. We have to grow the visitation so we grow the jobs and tax base. My OPED predecessor Mike Freimuth did a fabulous job getting the Arena and Ballfield established. But the job isn’t done. We need a third entertainment venue. I am glad the Finch administration ended the relationship with Vornado et al. I just wish the whole 10+ acres was being addressed together, not separately by the City and BHA. BERC is no longer functioning. They closed somewhere between 2008-2010.
Hey Lennie,
This website is based on conflicting opinions. I am tired of being subjected to sanctions for my opinions that may be objectionable to you or your advertisers. I suggest you straighten your shit out or consider the possibility of losing the input of intelligent people who can influence the future of BPT.
Bobby De Niro has spoken.
Lennie removed the best part of my blog. So I will try again. Since Freimuth, nothing remotely new has happened within Economic development.
As Steve noted, it appears Kooris is going to follow as others have and become the new minion for Finch with a stronger view towards Stamford than Bridgeport (please update me with his most recent projects). Remember Steal Pt has been a contaminated lot for over 15 years so regardless of economic times, this one major deal (we hope) is nothing to scream about.
Ronin, you got this Lennie sanction thing right. God forbid with question any of the past idiots who have run the office OPED in the past.
Thank you, MAGOO.
Lennie, we are all fairly intelligent people here. We shouldn’t be censored like 5th graders. I truly have the utmost respect for you but frequently wish you grew a little more backbone.
I started with OPED in 2004. Right after Ganim went to jail. Developers didn’t want to touch Bridgeport, ‘pay to play’ is all I heard. The good urban developers didn’t want to invest when they didn’t know what the land use controls were for the surrounding parcels. That launched the Urban Land Institute process involving hundreds of Bridgeport stakeholders, a brand-new 10-year master plan that included the NRZ plans and neighborhood benchmarks. It wasn’t all adopted by PZC before I left in Jan 2008 but the city was then poised to kick it up several notches. Then came the fiscal and real estate crisis. I have been living downtown since 2007, first to move into the renovated City Trust. I am still hopeful. If I weren’t I would have left. Remember the Arena and Ballfield were financed with all public dollars. The first big PRIVATE investment dollars, outside of the tremendous investment by Peoples Bank, was the renovation of City Trust, Arcade, 144 Golden Hill, and Phil Kuchma’s great work on Fairfield Avenue. Those historic renovations and new construction topped $100 million in private investment.
*** Maybe Bpt taxpayers should pick up the roads and parking lots tab for Bass Pro as part of the city incentives, no? And maybe Manny’s construction co. could get the city contract too. ***
Lennie,
Congratulations on the Nancy Hadley show. Grow a spine.
Lol lol lol lol 🙂
Mojo, I am pretty sure the sales tax increment financing bonds that are being voted on by the bond commission in Friday will include all of the driveways and parking lots on the Bass Pro site. This is a very complicated transaction but is essential to lure Bass Pro to open in Bridgeport. There is a lot of land left to develop on the peninsula once Bass Pro is up and running. I think your suggestion will stay on the table for the next deal.
*** Letters of intent don’t make it “written in stone” for Bass Pro & Co; and as blogged before on OIB, “SEEING IS BELIEVING” IN BPT. However, I will keep my fingers, toes, arms and eyes crossed in hopes of something actually being build at Steel Point soon! ‘Til then, maybe a mobile taco truck will have to do, no? *** HERE WE GO! ***
I love the idea Bass Pro Shops is going to open up shop on a parcel of land that is so appropriate to their line of business. We can only hope the Economic Development dudes at City Hall and Bass Pro Shops partner up and become tireless marketing advocates for this venue and keep it ever evolving to achieve and maintain a draw.
What would really impress me is if City of Bridgeport residency was given preference for all jobs associated with the construction, maintenance and operation of this “destination.”
Cabela’s coming to Bridgeport, joins Bass Pro Shops
Cabela’s Incorporated, the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, will announce shortly plans to bring the Cabela’s shopping experience to customers in Bridgeport CT, and the surrounding area.
Construction is scheduled to begin in 2016 and Cabela’s expects to open the location in 2017. It will be the second Cabela’s store in Connecticut, it will complement its East Hartford store.
The 85,000-square-foot store, to be located in Steel Pointe development area close to Interstate 95 Highway, will be built in Cabela’s trademark style with an exterior of log construction, stonework, wood siding and metal roofing.
Large glass storefronts will allow customers to view much of the store’s interior as they approach the building. The interior will highlight Cabela’s next-generation layout, which is designed to maximize product assortment and availability while surrounding customers in the outdoor experience with wildlife and outdoor memorabilia displays.
Please keep this under your hat.
Liberals love fairness. Why not just cut taxes across the board and see other industries and business come in? Democrats love tax breaks when it’s one of their own! Can you say hypocrisy?
Another thing Bass Pro brings to Bridgeport are realistic Airsoft rifles. They look like the real thing, and when teens are confronted and refuse to immediately back down, because police can’t tell them from the real thing, they can use deadly force.
www .basspro.com/Recreational-Shooting/_/S-12400010000
Trumbull teens are already using them in residential neighborhoods.