Wichita Falls won't have to spend a tax payers penny on the construction of a new water slide at the cities Castaway Cove Water Park.
"We anticipate that the total cost of the project will be just under $1.2 million," said Assistant City Manager Kevin Hugman.
Last year the city budgeted one million dollars to purchase the slide, tower and other project investments. The city spent $250,000 from the 4B sales tax and the remaining $750,000 came from the Castaway Cove Water Park reserve fund. Today Hugman explained that the construction cost would be covered with the excess money still left in the fund.
"The Castaway Cove reserve fund is supposed to cover the additional part of that and not necessarily general funds or tax dollars," said Ben Hoover District 1 City Councilor.
"Over the last four years the operating cost operating profit that we have gained from the water park is just over $1 million," said Hugman.
The city believes that with a new attraction the park will be able to bring in a big wave of new revenue. Hugman said that there is currently $100,000 in the Castaway Cove revenue fund.