From
Marty Wieder, Economic Development Director
Title
Non-binding Memorandum of Understanding with Bolder Adventure Park for lease and operation of 7+ acres in EpicCentral (This item was tabled at the January 21, 2020 Council meeting.)
Presenter
Marty Wieder, Director of Economic Development
Recommended Action
Approve
Analysis
As an incentive to develop an air supported dome and operate a destination adventure entertainment facility, the City of Grand Prairie has negotiated a Non-binding Memorandum of Understanding with Bolder Adventure Park. It includes provision for a long-term lease and a Chapter 380 grant.
Bolder projects generating $7,500,000 in annual taxable sales, meaning the City will realize $75,000 in annual General Fund sales tax revenues; moreover, Bolder intends to hire 14 Full Time Employees within its Grand Prairie Headquarters with an approximate Payroll of $800,000, as well as 135 Part Time Employees with a total annual payroll of $1,400,000.