Photo by Korri KezarThe city of Pflugerville cut $7 million from its general fund coffers to begin construction of the Hawaiian Falls water and adventure park scheduled to open by Memorial Day.
The decision came in a special-called Dec. 21 meeting. Funding for the $23.5 million project was slated to come through bank loans taken out by the Pflugerville Community Development Corp., but approval for the loans is taking longer than expected, PCDC Executive Director Floyd Akers said. The city agreed to lend the PCDC $7 million to kick start construction on the park as the corporation waits for full funding.
"The paperwork is taking a little longer than we anticipated, and we have to start turning dirt," Akers said. "The city is giving us a temporary loan until we get our bank loan, and then we'll pay the city back."
Akers said borrowing money from the city allows the park to be as profitable as possible during the summer months, as waiting for loan approval could have delayed the project's construction and the park's opening date. From the loan, $4.5 million was used to buy the property for the park, and more than $2 million is being utilized to start construction.
