Last fall in environmental economics one research group studied the fake whitewater recreation park near Charlotte:
The center, which opened in November, ... has the world's largest man-made whitewater river, a lodge, conference center and rock-climbing tower about 11 miles west of uptown Charlotte.
Their limited, small-scale analysis suggested it was a good idea (letter grade: A). At the time of the classroom presentation who would've thought this?
Expected losses at the U.S. National Whitewater Center could leave taxpayers covering about $1 million in operating costs through 2010.
I guess local governments thought it might happen:
Proposed in 2000 as a major economic-development tool, the center was built by private developers on county-owned land. Six governments from Mecklenburg and Gaston counties pledged up to $12 million to pay operating costs in case of shortfalls during the center's first seven years.
Charlotte pledged $2 million, not to exceed $285,700 a year. Mecklenburg pledged $7 million, or up to $1 million a year.
The pledges are to be a safety net for the center, which was estimated in 2003 to cost about $21.5 million to build. That figure has increased to $38 million.
Note to self: if you are ever a local political person and someone approaches you asking for government money to subsidize "a major economic-development tool" ... say no thanks.
Ugh:
The whitewater center is projected to be operating without public money by 2011, according to a summary provided by center officials to Mecklenburg County last month.
It's unclear how operators reached the numbers or what kind of revenues the first summer season is forecast to generate.
