Lipscomb addresses council regarding Pyramid - WMC Action News 5 - Memphis, Tennessee

Reported by Andrew Douglas

Lipscomb addresses council regarding Pyramid

During the executive session, the city's Chief Financial Officer Robert Lipscomb mentioned some key facts. The city and county debt on the Pyramid stands at $12.6 million.

Recent studies on building and seismic code issues for the re-use of the Pyramid uncovered some major structural problems that could be a costly issue down the road. And the Mid-South region has the highest number of hunting and fishing licenses in the country. It is one of the main reasons the city is interested in Bass Pro.

In the end, the council members did not pick or choose or decide on Ericson or Bass Pro.

What they will decide is whether or not to separate the bid process for the Pyramid and for development of Mud Island.  

"You got the deal going with Bass Pro do you really want to change the whole thing at this point we've been down this road so long and I'm a little fatigued about this whole thing as anybody would so I think the issue is do you want to change at this point and what are the implications of changing at this point," Lipscomb said.

Greg Ericson was disappointed he was not given a chance to talk and address the council.

He told me Lipscomb did a hatchet job on his business and the theme park industry and would be interested in submitting separate bids for both the Pyramid and the Mud Island development.

Click here to e-mail Andrew Douglas.

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