When the Texas city of Pflugerville announced that it would be partnering with a private operator on the development of a 23-acre waterpark, it was seen as an exciting new amenity.
Now, taxpayers are saddled with nearly $24 million in principal on the loan to build it, as well as potentially several million dollars more on recent improvements after years of operating at a loss.
The city council approved the project in 2013. Mayor Victor Gonzales, who was a council member at the time, voted in favor of it. These days, he's second-guessing his support.
"Had I known what I know today, no, I wouldn't have made that decision," Gonzales told the American-Statesman.
But the park is finally on track to turn a profit. In its second season operating under Typhoon Texas, the former Hawaiian Falls property is performing better than expected.
“We still have a ways to go, and I don’t want to give the impression that the park is performing up to its ultimate potential,” Ray DeLaughter, a Typhoon Texas partner, told the Statesman.
The company has an option to buy the property beginning in late 2027.
"If the deal with Typhoon doesn’t work out, Pflugerville could be faced with the prospect of running the park itself — or simply closing it," the Statesman reports.Read More