Artist's drawing of the proposed Council Bluffs, IA. amusement park, now another step closer to reality.

Under the agreement, developers of the park will receive up to $5 million in tax-increment financing to help build the $70 million park. Most of this money will come from new property taxes and will help pay for public improvements such as streets and sewers. $2 million of the money will come under a lease agreement that involves the city owning a parking lot, leasing it back to the developer and collecting a parking fee. The city will also receive a 50-cent surcharge on each ticket sold to cover such services as fire and police.

Original plans called for construction to begin soon in order for the outdoor part of the park to open in May 2003. Steve Minard, one of the developers, now says a specific start date for the project has not been determined.

The developers must have 100 percent of the financing (about $12.5 million) to cover the first phase of the project in place within six months. They also have an option on land nearby the South Omaha Bridge Road and South 24th Street.

Leading the marketing and entertainment efforts of the park will be former Walt Disney Co. executive Joyce Gray. Gray, who recently moved back to Red Oak, IA, spent 10 years with Disney. She was responsible for development, promotion and business strategy for entertainment at Disney's six U.S.-based theme parks in California and Florida along with four sites in Paris and Tokyo.