Water Park Transfer Deal Remains Un-Inked
A deal that would transfer the operations of the former Hawaiian Falls in Pflugerville, TX to Typhoon Texas fell through following a more than three-hour session that included the Plugerville City Council, the Pflugerville Community Development Corp. and representatives from the Katy, TX-based Typhoon Texas.
Source Horizon LLC had taken over operation of the park at 18500 SH 130 in May 2015. Source, however, defaulted on its negotiated agreement with the PCDC by failing to make scheduled payments. The PCDC, which had invested $25 million in the land and equipment, brought in Typhoon Texas, which would be making a financial commitment of $4.5 million in the park once the deal is signed. An agreement would help pay off debt on the project, which opened in 2014.
The park is currently closed. According to PDCD representatives, negotiations with Typhoon Texas are ongoing.
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