PFLUGERVILLE, Texas -- A financially-embattled waterpark in Central Texas will come under new ownership.
The Pflugerville City Council on Thursday approved the Pflugerville Community Development Corporation to release the owners of the property, currently known as Hawaiian Falls, from its lease and negotiate a new lease with a new consortium.
Source Horizon LLC currently owns Hawaiian Falls Waterparks.
The company owes Pflugerville almost $400,000 after missing monthly payments since September.
When the ink is dried, the waterpark will be rechristened "Typhoon Texas," reflecting the name of its new owners.
Typhoon Texas was selected selected because of a "shared vision," city officials said - economic development leadership.
The park will be renovated as part of the new agreement and will be the new owners' second location.