If it gets the greenlight, Branson Adventures would include a 100,000-square-foot indoor and outdoor waterpark, along with a whitewater rafting course that could accommodate the Olympic trials, plus a resort with 350 suites, restaurants and a spa.
While it would be a economic boon to the city of Branson, Mo., estimated to add 600,000 visitors annually, the $446 million waterpark and resort comes with a catch: The developer wants a generous tax break.
David Cushman, principal of CP Branson LLC, is requesting a tax abatement for a 23-year period.
According to the Springfield News-leader, citing the Branson Tri-Lakes News, the developer would kick in about $249 million. Private equity would contribute about $80 million, with the remaining coming through tax-exempt bonds at $109 million.
Such arrangement are not uncommon. Similar private-public partnerships helped transform the Wisconsin Dells into the "Waterpark Capital of the World." Similarly, Colorado is using incentives to lure large-scale attractions.Read More