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