Metro leaders consider tax breaks for water-snow park - WSMV Channel 4

Metro leaders consider tax breaks for water-snow park

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NASHVILLE, TN (WSMV) -

On Tuesday, the Metro Council is scheduled to take its first vote on major tax breaks for a proposed water and snow park near Opryland Resort.

Under the proposed ordinance, the new park would pay 40 percent of the standard property tax rate for 12 years if the following performance requirements are met.

  • Construction begins no later than the end of 2013
  • A Nashville-area general contractor is hired for construction of the park
  • The park opens no later than June 2015
  • Prior to opening, local job fairs will be held in an attempt to employ Davidson County residents
  • At least $50 million will be invested in Davidson County by 2020.

The planned park is the result of a partnership between the Gaylord Entertainment Company and Dollywood Co.

 The attraction is expected to draw 500,000 visitors annually, create 1,900 new jobs and generate millions of dollars in revenue.

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