New Kentucky Kingdom proposal to ask city for less money
One week after he was shot down, the developer of Kentucky Kingdom has come up with a new plan to re-open the park.
Through our partnership with Business First, we have learned that Ed Hart will be increasing his investment in the project from 3 million to 7 million dollars, asking the city for less money now to finally get this park re-opened.
Last week a plan was rejected, asking the city for $20 million dollars in bonds to help re-open the park. Now businessman Ed Hart, the President and CEO of the Kentucky Kingdom Redevelopment Company, has come up with a new proposal, this time asking the city to only issue $17.5 million, and guaranteeing the city more money.
"It will be a very hard sell. We're going to be short already on the budget so it's going to be a very hard sell if we're able to do this," says Marianne Butler, A Councilwoman representing the 15th District.
"I hope that we can get that passed. I really think it's necessary for our community to have Kentucky Kingdom, as so many people went to it and enjoyed it and were working there...the taxes that we derive from it and I think it's ridiculous it's been closed for two years," says Dan Johnson, who represents the 21st District.
Ed Hart has issued this statement about the latest proposal.
"As the Interim Agreement between the Kentucky Kingdom Redevelopment Company and the Fair Board expires at the end of this month, we hope a financial package can be crafted in the next couple of weeks so we can focus on reopening Kentucky Kingdom next summer".
It's an issue that once again will have city leaders talking.
"I think we'd love to see the summer jobs return, but at what price, we don't know yet," says Marianne Butler.
Ed Hart's statement to us did not mention if they plan to ask the state for funding again for this project, which previously they failed to provide.