Bristol Residents Paying $650,000 for Cabela's Fake Waterfall

by Lewis Loflin


Related: Bristol Virginia Residents Nailed for Higher Taxes and Fees 2015 and Teaching Positions Eliminated While Raising Taxes.

May 14, 2016. I kid you not as things get more insane with Cabela's.

Bristol Virginia incurred $70 in debt underwriting The Falls development near I-81 Exit 5. A local press report Who's Coming to The Falls illustrates how this project continues to fail. Besides the anchor store Cabela's they have announced four low-wage business planning to locate there: Buffalo Wild Wings, Freddy's Frozen Custard, Sport Chips, and Noire The Nail Bar.

Ref. April, 1 2016 Bristol Herald Courier.

Hammered by residents on the hook for this stupid project are asking, "What's Coming?" Mayor Archie Hubbard after a backroom session with the City IDA (Idiotic Development Authority) says, "we'll take whatever we can get...I'm praying, as I have since I've been on (the city) counsel."

There's also some debate about building a waterfall at the project entrance costing taxpayers $650,000. Mayor Archie says "It will be neat. It's a fake waterfall." The development is built on a big rock that's produced mountains of rubble, but that can't be used because limestone will dissolve so they must use artificial rock. Cabela's is "anxious" for the project to get done. Located at I-81 Exit 5 the area is in my view congested and hard to access.

As of now they have a Sheetz convenience store and a Zaxby's - Lowe's relocated from about 1.5 miles down the road and doesn't constitute new jobs. So far few jobs have been created assuming it hasn't simply moved business from existing nearby retailers leading to other layoffs. Sheetz has demanded protection from other convenience stores locating in the adjacent lots. There's an existing Exxon convenience store about 100 yards closer to Exit 5.

That isn't the only headache for Bristol Virginia and its dream of a retail sales tax empire. The Bristol Mall in Bristol Virginia that at one time sold for over $16 million sold for $2 million last year. Businesses continue to relocate to the Pinnacle across I-81 in Bristol, Tennessee. The Falls costing nearly $100 million in state/local dollars was designed to compete with the Pinnacle and the lost the bet opening behind schedule. They have four years before the really massive paybacks on the debt begins.

The Pinnacle is anchored on a Bass Pro Shop sporting goods that's a direct competitor with Cabela's sporting goods five miles down the road. Bass Pro in negotiating to buy Cabela's which has the Bristol Virginia IDA and Mr. Archie really praying for Divine intervention. The entire crazy deal was conducted without public input in secretive back room sessions.

In addition the local K-Mart store in Bristol, Tennessee will also be closing costing more jobs. While they claim new jobs at the Pinnacle they lose many jobs elsewhere - retail is a bad way to base an economy. To quote,

BRISTOL, TN (WJHL) - A Sears Holdings representative confirmed Tuesday afternoon that the Kmart store on West State Street in Bristol, Tenn. would be closing in early August. According to Howard Riefs, director of corporate communications of Sears Holdings, said the store, located at 2854 W. State St., will remain open for customers until then and will begin its liquidation sale on May 19.

Stores are also closing in Cleveland, Clarksville and Memphis. Source: