A Kentucky lawmaker whose district includes the shuttered Kentucky Kingdom amusement park says he’s optimistic the state fair board will find an operator for the facility. State Representative Jim Wayne says he was surprised to hear that negotiations with developer Ed Hart to reopen the park fell through last week. Fair board president Harold Workman […]
Louisville Metro Government officials say they remain hopeful that the Kentucky Kingdom amusement park will re-open next spring. 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 […]
Louisville Mayor Greg Fischer has unveiled a plan under which the Kentucky Kingdom amusement park would reopen in 2012. It calls for the city to issue 17-and-a-half million dollars in bonds, and would bring in a third-party investor. The bonds would be backed by parking revenues, occupational taxes, and the new partner. Louisville businessman Ed […]
Businessman Ed Hart has put forward a third proposal for re-opening the Kentucky Kingdom theme park next year. Hart first sought to renovate and re-open the park with a $50 million bond from the state. The General Assembly didn’t take up the issue. Hart then planned to use $20 million from the city this year […]
The park closed last year when Six Flags declared bankruptcy. Hart, who owned the park before Six Flags, then proposed a spate of improvements and a plan to re-open the facility by next summer. Hart’s proposal relied on the General Assembly’s approval of a $50 million bond to finance the renovations.
Even though state funding may not be available this year, the group seeking to renovate and reopen the Kentucky Kingdom theme park is not yet looking for other sources of money. The Kentucky Kingdom Redevelopment Company’s plans to reopen the park next year hinge on whether the General Assembly grants the state Fair Board a $50 million bond.
The park closed this year as owner Six Flags went through bankruptcy. Former owner Ed Hart then planned to renovate and re-open Kentucky Kingdom next spring.
Ed Hart sold the park to Six Flags in 1997. The company is undergoing bankruptcy, and Hart hopes to run the park again and re-open it by next year.
In recent years, the economy has sent some theme park profits and attendance numbers rolling downhill. But smaller parks have been able to ride out the recession because of some specific strategies.
At least four companies have approached the Kentucky State Fair Board about taking over the Kentucky Kindgom amusement park property. But officials aren’t likely to meet with those companies until next month.