FORT WORTH—The proposed Casino Beach project at Lake Worth is a bit closer to approval.
With hopes of developing an entertainment district at the site of a former amusement park, Arlington developer Mike Patterson is asking to purchase land from the Fort Worth water department for $1.8 million. Last week city officials approved the sale, and another measure that will help bring the proposal closer to reality, according to a report in the Ft. Worth Star-Telegram.
City attorneys can now move forward with the sale of 15.7 waterfront acres, owned by Fort Worth's Water Department, to Patterson's Casino Beach Properties. The city council also approved an agreement authorizing the group to develop and manage pavilions and other structures on park property.
The developers will pay a license fee to the city equal to 10 percent of revenues from the venues, or $2,744 for each acre, whichever is greater. The money will be used for citywide park improvements.
Click Star-Telegram to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
