From the Indianapolis Star:
...
The money to build Greenwood’s water park is coming from two tax increment financing districts, which means taxpayers won’t see a rate increase. These TIF districts use money generated by new growth to pay for infrastructure improvements.
But if the water park fails to attract enough visitors, it could end up costing taxpayers, since the city would be forced to cover any shortfall in the annual operating budget.
In June, a market researcher warned city officials to tread carefully. Li Li, a managing partner with Atlanta-based Four Square Research Inc., said the local market was not likely to support a $10 million water park.
Li conducted the study on behalf of the city and the YMCA of Greater Indianapolis, which is considering building a $15 million fitness center adjacent to the water park.
Li said a survey of 800 residents in Johnson County and southern Marion County suggests that Greenwood, which has about 50,000 residents, is overspending on the project.
...
http://www.indystar.com/apps/pbcs.dll/article?AID=2013308110030
