Cabela’s getting $18M in city bonds

The city of Greenwood plans to help with financing on a Cabela’s store at the southeast corner of Interstate 65 and County Line Road. Cabela’sThe Nebraska-based outdoors retailing giant has a deal to buy 104 acres at the intersection, including 25 acres for the chain’s second Indiana location and the rest for other development including at least two hotels, a water park and upscale restaurants, said Greenwood Mayor Charles Henderson. “It’s a great company and a great store,” he said. Henderson said Greenwood will issue $18 million in economic development bonds, with Cabela’s guaranteeing repayment, to get the project off the ground. The development would be built across I-65 from Gander Mountain, between I-65 and Arlington Avenue (Graham Road). The city plans to widen Arlington to five lanes in anticipation of the project. Cabela’s is slated to open in the fall of 2008. Its first Indiana store is scheduled to open in October of this year in Hammond.

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