The Altoona City Council approved an agreement that will direct annual payments to Adventureland Amusement Park for the next five years as compensation for sewage and stormwater retention improvements made by the company on its land.

The tax increment financing agreement will return about $40,000 in property tax money annually to Adventureland, for a total of no more than $200,000.

City Administrator Jeff Mark said the city asked Adventureland to do more stormwater control work than would normally have been required when the park added its “Kokomo Kove” water park last year.

Retention pond areas and an oversize sewer pipe will benefit the future development of land south of the park, an area Mark called prime for development.