What are the totals for the tax breaks/incentives/gifts that the city and county are donating to the water park?
Known fixed amounts
- $5 million from the city as a development grant
- $18.6 million land gift
- $40 million either from the city or in sales tax rebates from the state. If the state declines the city must pay.
- $526,100 from the tax increment reinvestment district
- $4,295,094 from the county
There are probably amounts that I have missed but the ones above total $68,421,194.
Committed but variable amounts
- $29,505,000 from the consultant’s feasibility report (hotel occupancy tax rebates, local sales tax rebates, and property tax rebates)
That comes to $97,926,194 on a project where the developer promised the county a minimum $100 million investment but told the city that it would be over $150 million.
Most of us would take that deal.
We deserve better