Pflugerville Water Park Misses Loan Payment

One Pflugerville development organization is trying to help an area water park from sinking.

The Hawaiin Falls Water Park in Pflugerville missed a monthly loan payment worth $132,026 in October, reported Community Impact Newspaper.

Now, the Cedar Park Community Development Corporation, which backs a $25 million loan to Hawaiin Falls owners Source Capital and Horizon Family Holdings LLC has to figure out why the water park missed the payment.

The development group, which incentivized the park’s 2014 move to Pflugerville, will meet Thursday to discuss any action that should be taken after the missed payment.

“Hawaiian Falls informed the PCDC that they would miss their lease payment due October 31 and requested deferral on payments until the end of the year to allow for internal refinancing on real estate transactions,” Amy Madison, executive director of the development corporation, told Community Impact.

City Manager Brandon Wade told the newspaper that this is the first payment Hawaiin Falls has missed since moving to Pflugerville and that it should not affect city finances or residents.

Although the water park was forced to lay off 12 full-time employees due to poor performance last winter, Wade remains optimistic about the future for Hawaiin Falls.

“A water park is a seasonal activity and it was discussed very thoroughly that there could be some potential for issues because of the seasonal nature of the park,” Wade told Community Impact. “It brings people to Pflugerville who otherwise wouldn’t come to Pflugerville. I think it has a very bright future ahead of it and the city plans to work with Hawaiian Falls to make certain that bright future is there.”