CEDAR PARK, Texas - Partners planning to build a Schlitterbahn waterpark in Cedar Park are close to striking a new deal, a step toward advancing the city's tourism goals.
Although still in the midst of finalizing financing for the project, Bryan Redmond of Cedar Park Land, LP said he is confident the partners—Schlitterbahn, Cedar Park Land and investors—will reach a deal in May. No timeline or opening date has been announced.
"Over the last few months, we have been working through documenting agreements. It just takes that long when you have different parties involved," he said. "We can't go back to a city and ask to do something if we don't have our agreements done."
Phil Brewer, Cedar Park economic development director, said once the partners finalize a deal, the city intends to pursue a new single-phase economic incentive package similar to the $75 million, Phase 1 portion of the 2010 agreement. Future expansion will be addressed on a case-by-case basis.
"I'm extremely optimistic that we'll be back at the table on this deal within the next 90–120 days, and we will have a completely new timeline we'll be able to release and make everybody aware of," Brewer said.
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