This offer is for the entire 226 acre site, complete with all improvements and the additional acreage being obtained from Six Flags.
This offer, when combined with the $3 million the city will receive from the Six Flags settlement, should satisfy the existing HUD loan debt. With the upcoming budget shortfall the city is now facing. We feel that it is better for the city and its citizens to use their revenues to support both the police and fire services, rather than continuing to service this debt on a non performing property.
This offer is being made with the support of our investment backers. As this impacts our overall plans, we have also requested that our GO ZONE bond application not be placed on the November State Bond Commission agenda, but rather held until the December meeting.
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