by Emily Luxen
NASHVILLE, Tenn.- The Metro City Council is one step closer to offering a big tax break to a new theme park.
At Tuesday's meeting, Council Members discussed offering the proposed Dolly Parton endorsed water and snow park a 60 percent tax break on property taxes which could add up to $5 million over 12 years.
Council Members in support of the idea say tax breaks are necessary to attract large businesses that will bring big economic benefits to the city. However, opponents said the ordinance favors big businesses and ignores small ones.
"It's not a hard thing to understand you have to invest money to make money," said supporter Councilman Phil Claiborne.
"What we are doing as a body when we pass this is selectively choosing who will succeed and who won't," said opponent Councilman Robert Duvall, "I think that is wrong."
The $50 million park located at Briley Parkway and McGavock Pike is expected to bring 750 year round jobs and an economic impact of $150 million a year. After some discussion, Council Members determined the benefits outweigh the concerns.
"I stand in support of this bill because it brings much needed jobs back to Nashville," said Councilman Scott Davis.
Council Members will officially vote on the ordinance in two weeks. The theme park is scheduled to open in the summer of 2014.
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