Loan for New Ferris Wheel Signed with THE National Bank

Quad Cities River Bandits LogoPRESS RELEASE – The new Ferris wheel coming to Modern Woodmen Park is a step closer to its new home in the Quad Cities, as the Quad Cities River Bandits announced approval of a five-year loan from THE National Bank to fund the project that will bring an iconic addition to the ballpark and riverfront.

Quad Cities River Bandits Ferris Wheel LoanTHE National Bank, headquartered in Bettendorf, Iowa, and Main Street Amusements, LLC – the new company that will oversee amusement rides at the ballpark – have agreed to a $995,000 loan that will be used by Main Street to fund the new Ferris wheel. The loan will be paid back over the next five years. The City of Davenport is not a party to the loan.

“We are delighted to partner with THE National Bank, a Quad Cities community bank, to make the Ferris wheel at Modern Woodmen Park a reality,” said River Bandits owner and Main Street Amusements President Dave Heller. “This project is one of the biggest highlights in the history of the ballpark, and it will make many memorable summer evenings for people in the Quad Cities and visitors to our region for years to come!”

The Ferris wheel will carry riders more than 112 feet above the playing field and is on track to come to Modern Woodmen Park in early June. It will be open for riders seven evenings a week on both game days and non-game days throughout the summer.

“We are thrilled to be working with Dave Heller and the River Bandits’ ownership to provide the funding for what will be a marvelous Quad Cities attraction,” said THE National Bank President and CEO John DeDoncker. “The Ferris wheel will be a fantastic destination for the entire community and region.”

The River Bandits will have a running start to the season with the first-ever Bandits Race to Home 5K on Saturday, April 6, before the 2013 home opener at Modern Woodmen Park Thursday, April 11. The River Bandits season opens at Kane County Thursday, April 4.

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Filed under Amenities & Features, Design & Construction, Money & Financials, Stadium Issues

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