The developer who wants to re-open Kentucky Kingdom amusement park says he’s not sure how to proceed after the city declined this week to approve a $20 million bond issue to get the facility back in working order.
The park been closed since early 2010 after its previous operator, Six Flags, declared bankruptcy.
Hart has an interim agreement with the fair board to re-open and operate the park, but the agreement expires at the end of the month.
“I’m not going to commit to pulling the plug right now, but again, I’m scratching my head, I don’t understand what’s going on. Every independent report has stated that this is a wonderful project with great economic impact,” he said.
Louisville Metro Government Chief Financial Officer Steve Rowland says the commitment would have been too risky without assurances that Frankfort lawmakers will approve the state bond issue. Hart says without the city money, the earliest the park could reopen would be 2013. He says the park would could eventually employ one thousand seasonal workers.