Plans to develop Tulare Great Wolf Resort, west of Visalia, are making headway. This is after Tulare County’s Board of Supervisors approved the project’s tax incentive plan. The over 15-year period incentive will help kickstart the development of the resort which will become North America’s largest water park. Eventually, the project will generate millions more for the county’s coffers.
With its location on Highway 99 and Caldwell Avenue, Tulare Great Wolf Resort is expected to attract about 600,000 visitors annually. Using these stats enabled the developer, Great Wolf, to reach an agreement with the county on deferring certain impact fees. However, these fees would be recaptured later through the hotel’s bed stay taxes referred to as transient occupancy tax (TOT).
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Features of the proposed Tulare Great Wolf Resort
The proposed 35-acre Tulare Great Wolf Resort will feature a 525-room hotel, with an indoor water park, restaurants, and meeting spaces. In addition, a family activity center will also be provided for hotel guests and other visitors. Another key feature is the “higher end concept”, which will be located within a separate structure adjacent to the main building. Besides catering to families and running a water park, the resort also offers arcades, spas, and other children’s activities.
The final map and development agreement for the Tulare Great Wolf Resort is expected to be completed by year’s end. Therefore, construction on the project is likely to start next year, with a two-year construction schedule.
According to county officials, the revenue-sharing agreement made between the county and developer was necessary for the project to commence. The majority of county staff are anticipating the development, as it is expected to benefit the area as a whole economically. They mentioned that visitors at the Tulare Great Wolf Resort would also go to other businesses and restaurants to spend. In addition, the project is expected to create about 1,255 construction jobs and 660 more jobs once it becomes operational.
TOT revenue agreement terms for the Resort project
Under the TOT revenue agreement terms, the developer receives 100% of the proceeds over the first five years. After another 5 years, the county will begin receiving 25%, while 75% will go to the developer.
But for the final five years of the deal, the proceeds from the Tulare Great Wolf Resort will be split equally. Then after the agreed 15-year period, the county will receive all of the TOT proceeds.
