Winnipeg's Mayor Sam Katz confirmed on Thursday that the city is finally getting an indoor water park.

The city has reached an agreement with Canalta Hotels from Alberta to build what could be a 50,000 square foot indoor water park at The Forks on the city owned parking lot.

"They have sat down with the proponent they have worked out a deal that they are prepared to endorse," said Katz.

Canalta is also planning to build a hotel on the site. The company has several hotels in medium sized cities across Alberta and Saskatchewan with small indoor slides in many of them.

"It's going to be extremely large and we want it to be a world class water park," said Katz.

Attempts by others to build a water park at The Forks and Polo Park went down the drain, even with a seven million dollar subsidy from the city on the table, to ensure low income families can afford to go.

Katz says that money is included in this deal.

The Canadian Taxpayers Federation says that money should be used to fix our crumbling roads.

"You got to focus on the basics first before you start worrying about things like water parks," said Colin Craig. "It's kind of like buying a big screen TV for your living room when the roof is leaking."

However, some parents say they are okay with the subsidy.

"I think it's another option to do in the winter when things are long when it's really mucky out," said Gwendolyn Seymour.

Specific details on the building project are not yet available.

The mayor says council needs to give the project approval before any action is taken. He says based on past attempts, he believes council will give it the green light.

-- with a report from CTV's Jeff Keele