ORANGE COUNTY (CBS) — Orange County supervisors Tuesday approved a new water park on the old El Toro Marine Corps base across from the Orange County Great Park.

Wild Rivers will be rebuilt on 17 acres next to the Great Park, which is home to the Great Park Balloon that takes riders 400 feet in the air for a bird’s eye view of the county.

“This is an exciting opportunity,” Supervisor Bill Campbell said. “The new and improved Wild Rivers will be a complement to the Great Park and an asset for Orange County.”

The county expects to get $30 million or more over the 25-year lease.

The water park, which operated for 27 years next to the Verizon Wireless Amphitheater, is expected to open in 2014.

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