A spokeswoman for Schlitterbahn emphasizes the proposal is not a done deal, but most would agree that it will come to fruition. The water park, if approved, will begin construction in spring 2004 so it can open in the summer on 25 acres adjacent to the Moody Gardens entertainment complex, just south of the Interstate 45 entrance to the island. The council last week directed the city manager to begin ground lease negotiations.

The water park site sits in the bounds of Scholes International Airport, the benefactor of any lease proceeds. Six of Schlitterbahn's acres are leased to Farmer Marine Cooper, which has agreed to sublease the land, says Hud Hopkins, airport director. An 8,000-sf repair shop will be razed while a 12,000-sf former military hangar could end up renovated and part of the park.

Jeff Sjostrom, president of the city's Economic Development Partnership, says the city is not offering any tax abatements to attract the developer. But, the project clearly will help to fuel the current "economic renaissance" that has put the island into its best position in seven years, he says. The partnership estimates more than $930 million is being poured into development projects on the island. Just in the last year, more than three million sf of commercial projects and 2,300 residential units were developed.