Sevierville’s Board of Mayor and Aldermen held a special meeting Wednesday to extend the contract purchase date on a planned $20 million CBID land purchase. The extension was needed because the city has made an approved lease agreement between Bass Pro Shop and Universe LLC a requirement prior to the purchase. That private lease agreement has not yet been finalized or reviewed by the city attorney.
The Universe option on the property Bass Pro will be leasing was set to expire on March 16. When the board originally passed the agreement, the deadline was moved to March 19 as a few extra days had been agreed to and were thought to be needed for the lease to be completed. The parties need even more time than expected, which required the board’s special meeting to move the date.
The City Manager suggested to the members that a date of April 7 or 9 would be sufficient after informing the group that Universe had negotiated an extension on the purchase option for the property until April 1. Attorney Ed Owens asked the board to consider April 15, tax filing day, as their new deadline.
After Alderman Claude Ownby had an issue on an adjacent property settled by explanations from Bishop and Owens, the board voted. The members present voted without a dissent on a voice vote to extend the deadline on their contract with Universe to April 15. Aldermen Jerry Loveday and Travis McCroskey were absent and did not vote.
“I really hope this is the last time we have to vote on this,” Ownby told the board and audience.
Owens reminded the council that their vote and the agreement “does not obligate the city to buy. It lets us try and get the deal done by April 15.” By that time a Type 1 survey of the property proposed for purchase by the city is expected to be complete.
The three-way deal needs the lease agreement to start the ball rolling. Once the lease is signed by Bass Pro Shops to open one of their popular mega-outdoor supply stores in the CBID, Sevierville will purchase over 100 acres of land near the Eagle’s Landing Golf Course from Universe LLC. Universe will then exercise its option to buy agreement with a private partnership.

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