An interactive tool to verify the project’s financial feasibility and calculate potential taxpayer liability.
https://bradleywaterpark.com/Audits/Bradley/taxesV1.html
The Legal Obligation
The Village borrowed ~$80M using “General Obligation Alternate Revenue Bonds.”Normally, the water park’s profits pay this loan. However, these bonds carry a hidden legal clause: the “Unlimited Ad Valorem Tax Pledge.”
The Trap: If the park cannot pay its debt, the bond ordinance legally forces the Village to raise property taxes to cover the difference—automatically, without a referendum.
Why could this happen?
Water parks suffer from Operational Leverage Risk. They have massive “fixed costs” (heating, chemicals, lifeguards, insurance) that you must pay whether 50 people or 2,000 people show up.
If attendance drops just 25%, revenue falls significantly, but costs stay high. This wipes out the profit margin instantly, leaving the debt unpaid. Use the calculator below to simulate this “Deficit Cliff.“
https://bradleywaterpark.com/Audits/Bradley/taxesV1.html
This is a work in progress, mistakes and errors are possible.
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