The Destination Bayfront project, the proposed 34-acre multi-purpose park that was planned for the area where the old coliseum used to be, is on hold indefinitely.
The plan was for Corpus Christi voters to decide on a $60-million bond issue to pay for the attraction, but the organizers asked that the bond proposal be withdrawn for now.
While the plan may be on hold, Destination Bayfront supporters want to make it clear to everyone that the project will move forward someday. They say there is simply a lot of support out there for it.
Destination Bayfront co-organizer Trey McCampbell is confident the project will eventually move forward.
Council members considered $150-million worth of projects to include in a 2012 bond proposal. Most of the money is expected to be used to fix the City's worst streets. City Manager Ron Olson has said the City can only afford $55-million in bond obligations without raising property taxes.
Destination Bayfront supporters saw the writing on the wall, and decided it would be best to put the project on hold.
McCampbell said the whole idea is to have taxpayers fund the construction of the multi-use park, and then have a foundation set up to raise money to support its operation and maintenance. Once up and running, supporters said it could generate as much as $3-million a year in tax revenue.