CHESTERFIELD COUNTY, Va. (WRIC) – The Chesterfield County Board of Supervisors is considering a tax deal that would see them give up millions of dollars in property taxes toward a proposed waterpark and housing complex.

The project would go up on Route 288. The resolution states that the project is expected to “provide significant economic benefits to Chesterfield County.”

County staff also predicted that once the waterpark, housing and retail spaces are complete, the property will be worth about $323 million — an enormous increase over the current county-assessed value of $4.7 million.

The tax break will be voted on at a board meeting on Wednesday, July 27.

To learn more about the project and tax deal, click BELOW: