Premier Parks has pulled out of a deal with the City of Fort Lauderdale to build a waterpark.

Premier, owner of Wet n’ Wild waterparks in Toronto, Hawaii and Palm Springs, planned to develop a fourth Wet n’ Wild on city property. But the developer backed out just days before the city was set to vote on the project, forfeiting its $82,500 deposit, as a result.

According to the Sun Sentinel, Premier couldn’t afford to renovate a stadium located on city property, a key part of the agreement.

This is the latest development in an eight-year long struggle to bring a major commercial waterpark to Broward County, which surprisingly does not have one. The city initially had an agreement with Schlitterbahh, but Premier sued, alleging that it did not seek competitive bids.

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