Thu August 16, 2012
Kentucky Kingdom Investors: "We Do Not Have The Luxury of Time"
The Kentucky State Fair Board has released a request for proposals to operate the former Kentucky Kingdom amusement park.
This comes a day after a group of developers called the Kentucky Kingdom Redevelopment Company announced a $40 million plan to re-open the park by 2014.
The proposal provides $10 million from four private investors, including local businessman Ed Hart, and $30 million in bank financing, which would need to be guaranteed by the state.
Other members of the group include Ed Glasscock, Bruce Lunsford, and Mary Moseley.
There have been two previous attempts to reopen the park since it closed in 2009, when owner Six Flags declared bankruptcy. Hart was involved in discussions in 2011, but a lease agreement with state could not be reached.
KKRC investors argue keeping the park closed is costing the state money, and choosing an operator quickly should be a priority.
"We do not have the luxury of time," said Hart in a new release.
A plan developed earlier this year to reopen the park by Indiana's Bluegrass Boardwalk group fell through leaving the search for an operator open.
"Frankly, I don't understand the Fair Board's reluctance to go forward," said Lunsford in the same release.
Hart will join WFPL Friday for Byline at 1 pm.