Editor's Note: Fifth in a series of stories on the people, places and events that made news in northern Michigan in 2008. To view previously published newsmaker articles, see record-eagle.com/newsmakers.
GRAYLING -- Downstate developers are about out of time to show the state the money for a proposed theme park development in Crawford County.
Axiom Entertainment, of Rochester, the company that pitched a sprawling amusement park concept for state land in Grayling Township, has not secured the needed $161 million for state approval. Their deadline is Feb. 5 and without the cash, state officials will turn away from the deal.
"We haven't heard from them. They've been trying for the last three years to get financing and I don't imagine it's been any easier in recent months," said David Freed, chief of land and facilities for the Michigan Department of Natural Resources.
Axiom wants to buy 1,400 acres of state land near Interstate 75 for $5 million and build a theme park called Main Street America with amenities such as roller coasters, a water park, the world's tallest Ferris wheel and an old military aircraft carrier, among other attractions.
Local proponents remain hopeful, despite the worldwide credit crunch that's left many unable to acquire car and home loans, let alone a multi-million dollar risk that banks on people spending plenty of disposable dollars.
"I still think it's going to happen," said Gaila Gilliland, director of the Crawford County Economic Development Partnership.
She's not alone in her hopes.
"We're kind of in a waiting pattern," said Terry Wright, Grayling Township supervisor. "We're hopeful."
Wright said a theme park would "mean new jobs, an increase in the tax base and it would bring tourists to the area."
But there remain plenty of skeptics.
"I'm convinced it never had a chance in the world of being built or successful, if built," said Marvin Roberson, forest ecologist for the Mackinac Chapter of the Sierra Club.
Roberson has long criticized the theme park proposal as unrealistic, detrimental to the community's character and likely to cause various water usage issues, particularly with the Au Sable River in close proximity. It's less likely than ever to happen in the current economic climate, he said.
Company officials acknowledge the credit market isn't favorable, but they are not walking away.
"The financial sector is in a standstill. But we're cautiously optimistic, as our financial institutes are still interested in the project," said Susan Haddad, spokeswoman for Main Street America.
Meanwhile, the potential land sale will move ahead only if an independent financial review verifies the project's solvency, Freed said.
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