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November 06, 2018

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I would focus less on the "lodge" part.

The city seems to have been aching to build a water park, and now it has its chance.

Love,

Max

We don't agree often so let me give you a shout out on this one. You nailed it.

Good job

Agreed. Don't forget that the 44-acre parcel, valued at $18.6 million, is owned by Foster and would be swapped for 2,313 acres of public PSB land in northeast. Doug Schwartz told the Inc the 2,313 acres is actually worth $66 million! Great Wolf Resorts would then lease the 44 acres from the City for only $1K/year with an option to buy for $10K. That is insane. Based upon the $40M rebate of the State sales tax and State HOT the City expects to capture over a 10-year period, I was able to calculate, based upon the contract between the City and Great Wolf, that the incentives package is worth a minimum of $107M while the minimum capital investment required by the contract is only $100M. You cannot make this shit up. Then there is the question of Wet n' Wild, just a few exits north on I-10, which would probably be wiped out by the unfair competition. In any case, the 44-acre parcel is in a rapidly growing area of EP and does not need an incentives package on this scale. The City rammed this one through so quickly that it has Tommy Gonzalez written all over it. He began planning for this deal the day he arrived and engineered the vote so that it would happen super fast and with as little controversy as possible. Typical. This deal is even worse than the proposed TIRZ 12 giveaway. I'm glad you are against crony capitalism in this instance.

Im thinking this helps Cimmaron area ? or are they too rich and uppity to go to Wolf ?

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