Just found this in the paper, this doesn't sound good:
Courier-Journal.com wrote:Kentucky Kingdom may not reopen as planned in 2012 because legislators seem unlikely to approve a $50 million state bond issue to help pay for improvements there.
The Louisville amusement park, which is on property owned by the Kentucky State Fair Board, has been closed since 2010 after its previous owner, Six Flags, filed for bankruptcy.
Susan McNeese Lynch, a spokeswoman for Kentucky Kingdom Redevelopment Co., said the 2012 reopening date “would have to be revisited” if the money is not approved in this year’s session of the General Assembly.
But she said it's impossible to say for sure if there would be a delay or how long it would be.
“There are so many variables, so many things that could happen,” she said.
The fair board and the redevelopment company, which has been chosen to operate the amusement park, still hope that the bond issue could be approved this year.
But leaders in the state House of Representatives say there is little chance of that.
No legislation has been filed to authorize the tax-exempt bonds, which would pay for upgrades at the park and be retired using Kentucky Kingdom revenue.
Any effort to approve the bonds would have to take the form of an amendment to an existing bill. Because it could involve an expenditure of state funds, the legislation would have to have originated in the House.
“I don't think the mood of the legislature is to do any bonded expenditures this session,” said House Speaker Pro Tem Larry Clark, a Louisville Democrat. “We know (the 2012 session) is going to be the budget (writing) year, so we want to save all the money that we possibly can.”
Clark said earlier in the session that he had concerns about the fact that fair board officials first began talking about a $20 million bond and then increased it to $50 million.
House Majority Leader Rocky Adkins, D-Sandy Hook, said he hasn't heard anything about the bond issue since the session began in January. That, he said, casts serious doubt on whether it could be approved at this point.
I wanted to let everyone know that Amusement Park Authority has been granted an interview with Ed Hart, the redeveloper of Kentucky Kingdom. If you have a question for Ed Hart that you would like us to ask in the interview, you can click the link below and post your questions there. You can submit your questions until Monday, March 14. The interview will take place soon after and we will post the answers to your questions soon after.
I want to let everyone know that the elected officials of Louisville, are not in favor of issuing a bond to re-open Kentucky Kingdom. All the pie charts in the world couldn't help Ed Hart on this attempt.
LOUISVILLE, KY (WAVE) – It is a major source of entertainment for Louisville Metro and a tourist attraction for Kentuckiana and beyond. But right now, the city is saying no to a $20 million bond issue that could open the gates at Kentucky Kingdom.
The park shut down in February 2010 when Six Flags, Inc. opted out of its lease. But the question the community has been asking is when will Kentucky Kingdom reopen? The answer is not anytime soon.
City officials tell us the $20 million bond issue needed to reopen a scaled back Kentucky Kingdom, basically an upscale water park, is too big of a risk for taxpayers.
"It's very important to get the park back open as soon as possible, since it's a big summer employer," said Chris Poynter, deputy director of communications for Mayor Greg Fischer.
Poynter says considering the city is facing its own big budget shortfall, it doesn't make sense to be all alone on the park right now especially because Kentucky Kingdom operates on state property with private investors.
Metro Council President Jim King (D-District 10) tells us the $50 million deal has changed many times. First, King says the state share was supposed to be $40 million and the city would add $10 million. Then, King says it changed to $30 million for the state, $20 million for the city. But when the Kentucky General Assembly did not take it up recently, King says giving $20 million to reopen as a water park only just didn't add up financially for the city.
So, what's next? King says Metro Government needs a strategy for the next legislative session.
Ed Hart, the man with the challenge of getting the park open again, has said he is disappointed. Hart has a press conference scheduled for Wednesday morning.
We asked for your opinion on our WAVE 3 Facebook page and this is what you're telling us.
Roseanne said, "It's everything to drive the tourists to Indiana and Nothing to entertain them in Kentucky."
Jeff said, "Might as well tear it down."
Stephanie said, "That stinks! My kids will be grown before they get that place reopened."
And Dennis indicated, all the money will be headed up the road to Cincinnati and the city's big water park at Great Wolf Lodge.
Last edited by larrygator on Fri Dec 02, 2011 8:44 pm.
As usual, my analysis is free of charge! Original enough to not steal someone else's quote as a signature
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