Whiting mayor: Mascot Hall of Fame closure was a ‘business decision’
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The mayor of Whiting says while Monday’s announcement that the Mascot Hall of Fame plans to close its doors in September came with some surprise and shock from the community, the move will ultimately put the city in a better financial position.
The hall of fame said it will cease operations at the Whiting facility on Sept. 14, though it will continue to operate online as it has in the past.
Mayor Steve Spebar said the hall of fame has been operating at a deficit since it opened in 2019, costing the city about $500,000 in taxpayer dollars each year.
“They’ve been able to wiggle into the deficit as time has gone by year by year, and I’m sure they would have continued to [improve],” Spebar said. “But it still operates at a loss to the taxpayers, and we weren’t in a position where we’d be breaking even anytime soon.”
The hall of fame’s closure paves the way for BP, which operates a massive oil refinery in Whiting, to move forward with plans for a multimillion-dollar redevelopment project at the site, which is part of the city’s Stadium District.
While specific details of the project have not yet been announced, BP’s proposal involves the development of an office complex along Front Street and 119th Street near Oil City Stadium.
BP plans to invest $18 million to purchase 41 parcels of land, including the Mascot Hall of Fame building, for the project. The proposal has been approved by the city’s redevelopment commission, and a purchase agreement is currently in the works.
Spebar said more details on the project will be revealed when the purchase agreement is approved, which is expected to be in the coming months.
The mayor noted that while the closure of the hall of fame building comes with some sadness among residents and visitors, the creation of the new office complex will provide long-term financial security for the city.
With the land purchase, the city will be able to pay back $11 million in bonds it still owes for the Mascot Hall of Fame, as well as $3.8 million in bonds on other parcels included in the deal.
“This transaction will also make us basically debt free as a city,” Spebar said. “And eventually, we’ll put many, many people on the cusp of our business district, which will be nothing but a boon for our downtown business district.”
Assuming all approvals are met, Spebar said BP could begin revamping the hall of fame building for its purposes next year, and the entire redevelopment project could take six to eight years to complete.