The Alabama Gulf Coast Zoo is banking on a strong spring season to help recover from a difficult 2022 that led to the zoo to miss one of its escrow payments last month, its director said Friday.
The zoo in Gulf Shores missed a loan payment backing $27.1 million of public finance authority revenue bonds sold in 2018. The repayment goes toward tax-exempt loans that were issued for the construction of the zoo that is located approximately two miles north of the Intracoastal Waterway in Gulf Shores.
He said the zoo was unable to place roughly $180,000 into escrow last month. The Zoo Foundation, he said, places a “certain amount of money into escrow” that is applied toward the bond repayment. The restaurant, while operating under the same non-profit as the zoo, is a separate entity and is not overseen by Hamilton.
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