Kentucky Kingdom (SFKK, KK) Discussion Thread

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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby mikeykaise » Thu Jan 24, 2013 12:13 pm

I feel the same way... let's not forget the Koch family members had a lease agreement but before they signed at the x they backed out of it before it was too late. I won't be excited until opening day 2014. They have a lot of work to do and might be best to bulldoze and start from scratch as long as the slides and rides have been sitting.
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby Chittlins » Thu Jan 24, 2013 12:23 pm

mikeykaise wrote:I feel the same way... let's not forget the Koch family members had a lease agreement but before they signed at the x they backed out of it before it was too late. I won't be excited until opening day 2014. They have a lot of work to do and might be best to bulldoze and start from scratch as long as the slides and rides have been sitting.


Have you seen the legal infighting with the Koch Family. I wouldn't be surprised if that had something to do with them bailing.

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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby lilsam1993 » Thu Jan 24, 2013 12:55 pm

Chittlins wrote:
mikeykaise wrote:I feel the same way... let's not forget the Koch family members had a lease agreement but before they signed at the x they backed out of it before it was too late. I won't be excited until opening day 2014. They have a lot of work to do and might be best to bulldoze and start from scratch as long as the slides and rides have been sitting.


Have you seen the legal infighting with the Koch Family. I wouldn't be surprised if that had something to do with them bailing.


Couldn't agree more!

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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby jray21 » Thu Jan 24, 2013 3:07 pm

I'm still wondering which will open first, Flying Turns or Kentucky Kingdom!
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby larrygator » Thu Jan 24, 2013 3:43 pm

Here is the news as reported in the Louisville Courier Journal.

http://www.courier-journal.com/article/20130124/NEWS01/301240028/Kentucky-Kingdom-lease-approved-developers-target-Spring-2014-reopening

Kentucky Kingdom lease approved; developers target Spring 2014 reopening

Jan. 24, 2013 2:21 PM
Sheldon S. Shafer


The Kentucky Kingdom amusement park at the state fairgrounds would open in Spring of 2014 under a lease agreement between the state and investors led by former park operator Ed Hart.

The Kentucky State Fair Board voted unanimously Thursday afternoon to approve the deal.

The deal would require the investors to put in $45 million, including $25 million that they would borrow. The lease is contingent on the investors finalizing the loan.

The investors, Kentucky Kingdom Redevelopment Co., would have an initial lease on the state-owned property for 50 years and would control 57 acres plus another 4 acres for the potential expansion of the water park. The group would pay rent to the state of $475,000 a year at first, then it would increase over 15 years until it is capped at $1.2 million.

The developers would get $1.25 of the current $8 visitors pay to park. All rides and improvements undertaken by the developers would become property of the state.

Hart’s group has scheduled a press conference for later in the day to discuss its plans.

Earlier this week, Louisville city officials and the convention bureau offered financial incentives worth as much as $300,000 a year toward reopening the park.

The Louisville Convention & Visitors Bureau board of commissioners voted to provide the developers $100,000 a year for five years toward the park’s operating cost. And Mayor Greg Fischer said the city has agreed to return to the park up to 1.25 percent of the annual occupational tax collections generated by the park’s employment. Fischer estimated the city incentive to be worth about $100,000 a year.

In addition, Louisville Metro Council President Jim King, D-10th District, said he would introduce a resolution that would have the city match the job tax rebate. He said that probably will be a general fund appropriation of around $100,000 a year over the next decade.
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby Voxelmatic » Thu Jan 24, 2013 3:51 pm

I was excited for the park to reopen... but then I remembered that it was SFKK, home of the United States only SBNO Shuttle Loop.
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby Andrewoplis » Thu Jan 24, 2013 4:59 pm

Voxelmatic wrote:I was excited for the park to reopen... but then I remembered that it was SFKK.


Yep...

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Hm, I see...

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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby 3Mutts » Thu Jan 24, 2013 5:25 pm

I know Ed loves this park but he sounds like a mad man to take this offer in a bussiness sense, the state is taking all his profits and assets (rides)! Never the less its great to hear KK MIGHT reopen.
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby beatle11 » Thu Jan 24, 2013 5:37 pm

^ From what has transpired over the last couple years, with Ed Hart not going away, it definitely seems to be a personal quest for him to get this park re-opened. I guess he figures the business aspect of it isn't as important to him. As far as the state is concerned, it seems like they have nothing to lose here.
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Re: Six Flags Kentucky Kingdom (SFKK) Discussion Thread

Postby darklingscribe » Thu Jan 24, 2013 5:55 pm

I hope the park does well, but man those hare some hard terms. Anyone know why the board was looking for a deal like this?

If anything it might jeopardize the park's ability to make a profit and stay open. That seems counter to the board's initial goal of ensuring that the area has more jobs and taxable income.

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