well, well, well, no surprise but the Koch family has withdrawn from the Bluegrass Boardwalk project. Its never going to reopen because no one wants to deal with all the headaches that come with dealing with the Kentucky State Fair board. Here is the official statement from the Bluegrass Boardwalk website:
Bluegrass Boardwalk withdraws from project June 15th, 2012 Paula
We’re so sorry to share this sad and disappointing news. Thank you to all who expressed their unbridled enthusiasm in this project. We will remove this website plus our Facebook and Twitter pages within the week. The following news release was emailed to the news media this afternoon:
Bluegrass Boardwalk withdraws from project
(June 15, 2012) Louisville, Kentucky —Following nine months of planning to reopen Louisville’s shuttered amusement park, Bluegrass Boardwalk, Inc. today withdrew from the project.
“We entered into this discussion last October with full expectation of leasing the park,” says Bluegrass Boardwalk CEO Natalie Koch. “However, we have come to the realization that leasing a park rather than owning it would take us too far from the business model my family has followed for more than 60 years.”
Koch says she and her partners were financially prepared to meet the challenge of reopening the abandoned park, however the many layers of governmental regulations and stipulations ultimately caused them to withdraw.
Koch says she and her partners believe reopening the Louisville park is still a worthwhile project and they wish the future operator well.
“It’s been a lifelong dream for my family to operate a second park,” says Koch, whose family owns and operates Holiday World in Santa Claus, Indiana. “It’s hard to walk away from what we believed was a winning partnership for Kentucky and our team. But at the end of the day, the terms of the project did not fit our business model. It was time to withdraw.”
A letter terminating the proposed lease agreement was delivered to the Kentucky State Fair Board this afternoon.
What's sad is that if the Koch's were able to get the park up and running, it probably would have worked quite well for them. Selling combo passes probably would have helped both parks. Too bad government red tape got in the way.
Now what's left of the park will most certainly be sold in pieces so the fair board can recoup something from this mess...
Well This really is a shame! But again it's not surprising. As we all know the board has a history of being . . . difficult. Oh Well I'm sure in the end this is a wise choice for Holiday World. Although I was really looking forward to going to that park with Koch family Running it! It was a basic guarantee of a world class wooden Coaster for the park! Oh Well.
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