Despite lingering opposition, Green Bay aldermen agreed Tuesday to borrow $2.4 million to bring the Zippin Pippin roller coaster to Bay Beach Amusement Park. The action on a 9-3 vote followed City Council approval earlier this month to acquire the historic wooden coaster from Memphis, Tenn. Most of the money — coupled with $600,000 in expected private donations — would go toward purchasing new materials and re-creating the Zippin Pippin here.

The deal with Memphis involves primarily acquiring the rights to the design and name of the coaster, which was renowned in Memphis as Elvis Presley's favorite amusement park ride. Mayor Jim Schmitt and other supporters of the deal have said the coaster will pay for itself, with projected ridership of 200,000 people a year. "I look at this as purely a business decision," Alderman Dan Piton said. "I think it makes sense."

The purchase was included in a yearly borrowing plan of $15.6 million, which also included funds for road improvements, equipment purchases and other infrastructure upgrades.Critics of the roller coaster deal renewed assertions that it is a frivolous purchase fraught with financial peril during tough economic times. Alderman Guy Zima pointed out that the total price tag of $3 million is much greater than any ride ever before purchased for Bay Beach. Zima also said the ridership projections and other elements of the deal are speculative. "Now isn't the time to speculate," he said. "It's risk — high risk."

Other opponents said the city should consider other roller coaster options or should try raising more in private donations. But a clear majority agreed to move ahead with the Zippin Pippin project by borrowing the $2.4 million as proposed. A move to trim the project from Tuesday's borrowing package failed by an 8-4 margin.

The funds will be raised through general obligation bonds, which means they are backed by the city's property tax collections and other revenue sources. Schmitt and other officials, however, have stressed that Bay Beach revenue will be more than enough to pay back the bonds without taxpayers bearing any of the cost. The amusement park turns a profit of about $800,000 a year.

Alderman Anthony Theisen said history has proven that new rides bring bigger crowds to the park and generate increased revenues. "I don't think it's speculative at all," he said. "Bay Beach is a jewel for Green Bay."

Quelle
Zippin Pippin @Wikipedia
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Radio 30.3.2010 - 21h | Aktuelle Fotos: Teneriffa