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  • W.F. City Councilors Vote to Make Offer for Castaway Co... 

    Tuesday, Nov 3, 2009 @03:04pm CST

     This morning, Wichita Falls city councilors voted to take the plunge and make an offer to purchase Castaway Cove Water Park. They decided to offer 3.9 million dollars for both the park and the adjacent 49 acres of undeveloped land. Katie Crosbie was at the meeting -- Katie, that amount is substantially lower than the amount the investors were seeking. That's true, Steve ... The investors wanted 4.3 million dollars *just* for the water park ... But this offer of 3.9 also includes the undeveloped land -- which was *not* part of the investors' initial plan. It was a packed council meeting -- with almost a dozen people speaking up in favor of the purchase. They spoke of the park's impact on quality of life, and its ability to attract visitors and new residents. We spoke to one investor -- Dewayne Travelstead -- who says if the investors accept the lower offer, it will mean a tough financial time for many of them. “It’s very disappointing,” said Dewayne Travelstead (Castaway Cove Investor). “I think the majority of the investors will probably vote to accept it – I don't know for sure; I’m just one voice – but we’ll will have to pull several hundred thousand dollars from our pockets just to keep the park open over next few months.” But Travelstead says most of the investors built Castaway Cove because the community needed it -- not to try to make money. Now, it's up to that investor group to decide whether to accept the city's offer. Councilor Rick Hatcher was the only councilor opposed to the purchase -- because he said he's fundamentally against cities taking control of such facilities.
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