The water park deal gets more expensive to the taxpayers every time we study it.
In addition to the deals that the city has made we now see that the county has chipped in also.
The deal with the county (read the whole thing here if you wish) has some differences from what we have been told previously by the city.
While the city has been telling us that the development company will be spending more than $150 million on the project, the deal with the county requires the developer’s minimum investment “to include cash and in-kind contributions in an amount no less than” $100 million.
And while we have been told that the land is worth $18.6 million we find that it is on the tax rolls at the appraisal district at $4,748,573.
Moving along as though those numbers don’t matter, the county has committed to give the developers up to:
- $3,048,544.54 in real property tax rebates
- $ 208,812.20 in personal property tax rebates
- $1,037,737.42 in hotel occupancy tax rebates
The total is $4,295,094.10 if I ran my calculator correctly.
Remember that we cannot use the water park unless we rent rooms at the hotel.
We deserve better