ROCKFORD, Ill. (WIFR) -- Updated: Oct. 24, 2018, 1:00 p.m.
The Rockford Park District Board approved a real estate tax abatement to move forward with a leasing agreement with Six Flags.
Under the agreement, Six Flags would operate Magic Waters Waterpark for 10 years with up to three 10-year options for renewal.
Eleven more taxing authorities must agree to the abatement for the lease to be approved. If finalized, Six Flags would officially manage Magic Waters in 2019.
Published: Oct. 9, 2018, 6:12 p.m.
The Rockford Park District Board of Commissioners has approved a lease agreement allowing Six Flags Entertainment Corporation to operate Magic Waters Waterpark starting next spring.
The lease agreement is expected to be finalized and signed in the near future.
Park district officials say the board and other authorities will be asked to vote on a property tax abatement in order to make the agreement official.
If finalized, Six Flags would begin managing the waterpark in 2019.
“By having the Six Flags brand in this market we expect a major increase in tourism which will have significant economic impact for our community," said Rockford Park District Executive Director Jay Sandine.
Magic Waters, a 42-acre waterpark, has been owned and operated by the Rockford Park District since 1988.