Story highlights Kansas City water park says it will permanently close the Verrückt water slide

Caleb Thomas Schwab, 10, died of a neck injury on the slide in August

(CNN) A Kansas City water park will shut down the world's largest water slide in response to an accident that killed a 10-year-old boy in August.

Caleb Thomas Schwab, the 10-year-old son of a Kansas state legislator, was killed in August in a water slide accident.

In a statement released on Tuesday , Schlitterbahn said its staff are "heartbroken over the tragedy that occurred on Verrückt" and that they are continuing to work with investigators, families and their attorneys.

"Once the investigation is concluded and we are given permission by the court, Verrückt will be decommissioned -- closed permanently and the slide removed from the tower. In our opinion, it is the only proper course of action following this tragedy," the company said. "We will, at some point in the future, announce what will be built in its place."

The Verrückt water slide, named for the German word for "insane," is 168 feet 7 inches tall -- taller than Niagara Falls.