We could know by the end of the day Monday whether a developer’s ambitious plan to build a theme park in Sutherlin are actually going to become a reality.
Oregon Only Development CEO Bruce Brunette has until then to close on the 126-acre site located just off Interstate 5. The catch: Brunette must pay $500,000 to execute the closing. If he doesn’t he stands to lose his rights to purchase the property and the $25,000 he put down on it in September when he exercized his option to purchase the land for $1.2 million.
If Brunette does meet the closing deadline and pays the $500,000, the contract calls for the balance to be paid out over the next 18 months at 6% interest.
Brunette did not return my call seeking comment.
Sutherlin City Manager Jerry Gillham said he thought the closing date had been pushed back to Nov. 21, but he wasn’t certain.
“I really don’t know too much about it,” he said. “We’re just sitting here waiting and hoping.”
Brunette’s plan calls for a theme park located just off Interstate 5 that will draw loads of visitors by featuring all things Oregon, including a museum, water park, fishing, boating and an outlet mall. Brunette has said he also plans to build a hotel, convention center and RV park on the site.
In fact Brunette said the RV park is scheduled to be the first thing built, in part so it can house the workers needed to construct the rest of the park.
This would not be the first time Brunette waited until the deadline on a step to purchase the property. He exercised the option to purchase the land on Sept. 17 of this year – six months after he negotiated the contract with the county and on the last day he had to exercise the option.