Without State or City Bonds, Kentucky Kingdom Redevelopment Company to Regroup
Louisville businessman Ed Hart will discuss the various options for renovating and re-opening the Kentucky Kingdom theme park Wednesday.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.The legislature didn't take up the issue. Hart then entered into talks with state and local officials about the possibility of Metro Government issuing a $20 million bond for the park, which would still allow for a 2012 re-opening, but without many of Hart's proposed improvements. Those plans also fell through, though a spokesperson for the Kentucky Kingdom Redevelopment Company says the proposal was one of several put forward.It's not known whether the park can still re-open next year. Hart is expected to talk to the media at 10:30 Wednesday morning.