LANSING – A company that wants to build a theme park in northern Michigan says it is getting closer to completing financing for the project.
Patrick Crosson of Rochester-based Axiom Entertainment said yesterday that the company is scheduling updates for next week with state officials about the Crawford County project’s financial backing. Crosson said he is “cautiously optimistic” the company will have written agreements for all of the project’s financing within two weeks.
The development and construction of the park would cost about $161 million.
The deal also would include the sale of land, including some 1,700 acres of state-owned property near Grayling, with total cost estimated at about $6 million.
Crosson attended a meeting yesterday of the state’s Natural Resources Commission.
Natural Resources won’t sell the state-owned land until it is comfortable financing exists for the entire project.
Crosson said he hopes a deal will be in place so the commission will be ready to vote on the land sale as early as next month.
The park potentially would include roller coasters, a water park, snowmobile and race car tracks and other facilities.