Iowa State Park Asking for $27 Million Bailout - Luxury Coach Lifestyles
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Old 12-06-2012, 04:22 AM   #1
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Default Iowa State Park Asking for $27 Million Bailout

Managers of the Honey Creek Resort State Park at Lake Rathbun in southern Iowa are asking for a state bailout as it struggles to make payments on its loans. Iowa’s chief parks manager is asking for $27 million to pay off the costs of building the destination park, Radio Iowa, Des Moines, reported

Department of Natural Resources Director Chuck Gipp told Gov. Terry Branstad at a budget hearing that the resort is having to tap into state environmental funds to make its bond payments. “And it is making money, it is making money, but it’s not making enough money to pay off the bonds and the interest,” Gipp said.

“It’s paying for its ongoing expenses, it’s not paying for the capital costs of building it,” the governor replied and Gipp said that was correct. Gipp says Honey Creek has boosted the economy in southern Iowa.

“While sales tax collection was falling in a majority of the counties across the state of Iowa, two counties that experienced increases in sales tax at that time were Wayne and Appanoose county. And the only new thing that occurred thing different is the proximity to Honey Creek state resort,” Gipp says.

The governor replied, “So there is some economic benefit in the area.” Gipp replied, “There is.”
The governor suggested he will look for a one-time source of money to cover the bonds. Developers had initially projected that the resort would make enough money to cover the debt. Honey Creek offers guest rooms, cottages, golf and water sports on the lake.

Iowa State Park Asking for $27 Million Bailout | RV Business


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Old 12-06-2012, 03:46 PM   #2
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I remember reading something about the construction of this 240 acre place a couple years ago. There are some nice amenities at the lodge including dining, wedding ceremony area, live theater (available with dining and a little indoor water park with arcade; great for the kids and grand kids. Also a 9 and 18 hole golf course with reasonable rates.

I had to laugh when I seen the chef at the Rathbun Lakeshore Grille's name is Bob Newell C.E.C.. His menu sounded pretty good!

The place is wide open and easily accessible with a big luxury coach and toad. I think they could use some additional matured landscaping. The RV side of things might not be swank enough for some. All in all, a nice place. Sad they need a bail-out!

Direct link to the photo tour page: Property Photo Tour | Honey Creek Resort State Park

Direct link to the RV page: Rathbum Lake RV Campground | Honey Creek Resort State Park

Thanks for sharing Sean!
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