A financing plan proposed by Mayor Greg Fischer in May to reopen the park would include more than $17 million in city-issued bonds, but Fischer’s chief financial officer tells the Courier-Journal that developer Ed Hart may try to pursue state tourism tax credits for the project. That would reduce the city’s share of
Hart has declined to comment on the negotiations. The Kentucky State Fair Board has granted Hart’s group the rights to try to get the park back up and running.
Mayor’s spokesman Chris Poynter says all parties are working toward the goal of a 2012 re-opening.
“That’s what we’ve been talking with the fair board about and mr. hart. He’s been talking to others and the fair board has been talking to others. We’re very hopeful that we’re close to a deal but we’re not quite there yet,” he said.
Kentucky Kingdom has been shut down since early 2010, when its previous operator, Six Flags, declared bankruptcy.