Memorial Pool in North Tonawanda has been around for 73 years and has been a fixture for kids in the area since the 1940's.

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However, the pool has deteriorated over the years and doesn't have much time left.

According to WKBW, North Tonawanda did a feasibility study on Memorial Pool. Then the news of Fantasy Island closing came in. There's talk of a new pool park in North Tonawanda, especially now since there's less competition.

"Now you have one less competitor and you have people kind of craving that aquatic experience. Where are they going to go?," said Alex Domaradzki, North Tonawanda's Director of Parks & Recreation.

North Tonawanda could decide to build a new water park in its place instead of renovating Memorial Pool at Payne Park.

According to WGRZ, the feasibility study says building a new water park would cost $6.5 million, while renovating the current pool would cost $2.5 million.

The report also found a new water park would bring in over 60,000 people a year, versus the 14,000 people now.

The new water park would ideally include a "traditional lap swimming, a lazy river, water slides and a deck."

"It would be a huge revenue generator for the city," he said. "We would have concession stands, new locker rooms and just an overall community-centered park that people would not just drop off their children and let them enjoy their day at the pool," says Alderman-at-Large in North Tonawanda, Austin Tylec.

You can take a look at what a new water park would look like below.

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