Water park not feasible without incentives

This slide explains the water park viability as well as anything we have seen:

The red coloring is part of a page in an economic impact analysis that the city has posted on their website.  You can read it here.

Simply put the analysis concluded that the hotel would only generate an internal rate of return of 4.2% unless someone kicked in some free money (government incentives).

The authors stated that investors would need an internal rate of return of between 14 and 16%.

They stated “As a result, in the absence of additional financial incentives, the Proposed Hotel is likely not feasible.”

Aren’t we nice?

We deserve better

Brutus

11 Responses to Water park not feasible without incentives

  1. Anonymous says:

    we could go to Disneyland for less.

    Like

  2. John Hogan says:

    So why did we really feel the need that this was the right thing to do? Sounds to me more like something that was rammed down our throat by Paul Foster who wanted that 2313 acres in northeast El Paso for $0.30 on the dollar.

    Like

    • Anonymous says:

      Well Foster, Developers, Mountain Star Sports already OWN Dee Margo, City Council, so why not GIVE him FREE land?? Can always INCREASE OUR taxes for whatever THEY want to give him, them. Inherent Public Corruption in El Taxo. We need the FBI inside City Hall. An Organized Crime Investigation, under Federal R.I.C.O. Laws. An FBI raid just like they did at EPISD.

      Like

  3. Anonima says:

    The chosen location, in case you have not driven by it lately, is in the middle of congestive development along I-10…near the Outlet shops. Not very scenic. If they orient it well then the tourists can see there is a mountain…but many rooms will probably just see the traffic on I-10. Just the kind of ornament that Destination El Paso needs!

    Like

  4. Anonymous says:

    So a PRIVATE business, MILLIONAIRES, BILLIONAIRES want to build a FOR PROFIT hotel, water park in El Taxo and THEY want the TAXPAYERS, homeowners to PAY for it. And for the Mayor, City Council, corrupt politicians they are willing to do it on the backs of TAXPAYERS, like everything else THEY want. Where are OUR TAX breaks, TAX cuts? All WE ever get from these people who are SUPPOSED to REPRESENT US, is TAX INCREASES. Lie, deny, deceive, tax, waste, spend, tax some more. Anybody vote “For” any of them who were up for RE-ELECTION??

    Liked by 2 people

  5. Anonymous says:

    God forbid investors wouldn’t make a guaranteed return. Sadly, the only guaranteed return taxpayers will get in EP is city and county governments that screw them over time and time again.

    Liked by 2 people

  6. Anonymous says:

    Seems like the “Investors” . . and. . el paso . . are getting a snow job.

    Like

  7. Anonymous says:

    Geeeeeee, . . . . most businesses would like a 14-16% rate of return !
    (However, this type of business will never do that in el paso.)

    Many hotels that are REASONABLY priced in el paso barely break even. This hotel is mainly for FAMILIES . . . and FAMILIES usually go for the cheapest hotels . . . . . . not the most expensive while traveling thru el paso, . . . so they can spend more at Disneyland or Vegas.

    Wrong hotel, wrong city, wrong prices.

    (Isn’t there still a waterpark Wet & Wild on the west side NOW ?)

    A 3 day CRUISE would be cheaper than 3 days at Wolf Lodge.

    Liked by 2 people

    • Anonymous says:

      Exactly, right. El Taxo is just a gas stop, a lunch, dinner on I-10, people passing through, going some where else, East, West, North. What person, FAMILY is going to blow-off $300-400, MORE of their travel, vacation money, just for a night in a motel in El Taxo??. Can drive to Las Cruces, Van Horn, Midland, Ft Stockton, Tucson, get a NICE overnight stay for $100 or LESS. What is in El Taxo to stop for?? Gas, food. Maybe they could drive by see the MULTI-MILLION$$$ baseball field the politicians conned US, shafted US with?

      Liked by 1 person

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