Does this place have waterfalls and a place where you can cool off in some water?

There's water all over the place to cool off in but yes there is a waterfall at the Mill that you can play in and cool off.

If you go to the Pine Grist Mill which is at the far east edge of the park there is a short waterfall with a shallow swimming hole that people will often swim in.

Didnt find the waterfall, but there is waist deep water just off of trail 2, if ya keep going east there might be more down stream...

Lots of water