The $38 million U.S. National Log Flume Ride lost $1.7 million in its first season of operation, the Charlotte City Council was told last night. That is over four times the $400,000 shortfall expected for the center when it started operation.
In other words, the situation has not changed at at all since late August when the center disclosed a $1.7 million shortfall and announced plans to hike rafting rates in an attempt to recover some money. Didn’t work. Got 300 county-owed acres and $38 million worth of buildings and can’t make money.
Here’s an idea: Let’s have BofA step up and let the payments on the $15 million loan the center owes slide a bit. You know, instead of having taxpayers foot the bill.
Bonus Observation: Remember when it was the end of the world when $800K worth of elderly transportation service money might go missing? And $1.7m. for a log flume ride is no big deal? Strange priorities there.
