Title
Resolution - A Resolution Selecting Mansfield Family Entertainment, LLC as Contractor for the Hawaiian Falls Water Park Mansfield 2012 Expansion Project for an Amount not to Exceed $2,890,892; Delegating Authority to the City Manager or his Designee to Negotiate and Enter into a Contract With Mansfield Family Entertainment, LLC; and Providing an Effective Date
Requested Action
Consider Resolution.
Recommendation
Approve Resolution.
Description/History
City Council approved a Water Park Ground Lease Agreement with Mansfield Family Entertainment, LLC (MFE) on April 24, 2007 for the operations of Hawaiian Falls Water Park. On November 19, 2007, City Council approved the First Amendment to the ground lease, recognizing Texas Credit Union’s $2 million loan to MFE in order for MFE to make a 2 million capital contribution to the water park project. On October 26, 2009 City Council approved an Addendum to the ground lease allowing MFE to raise the credit limit on the loan by $1 million to construct a new attraction (The Torpedo) and stay in compliance with the agreement. On November 14, 2011 City Council approved Amendment Number Two to the ground lease allowing certificates of obligation to fund a $3 million expansion and to have MFE fund 20% of the expansion costs over 20 years and also allowed an increase in Annual Lease Payments for the term of the contract. On January 23, 2012 City Council approved an Amendment to Amendment Two to the ground lease allowing one of the new three attractions to be a “Colorado Drop Slide” instead of a “Master Blaster ride.”
Justification
City Council approved a $3 million expansion to Hawaiian Falls Mansfield for the 2012 season. The expansion project has been designed to include three new attractions; “Splash Water Harbor, Boomerango and a Colorado Drop Slide” as well as additional cabanas, DJ booth, food kiosk, shade structures and site furniture. Also on December 12, 2011 City Council approved a resolution deter...
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