Wednesday, April 16 2014 10:54 PM EDT2014-04-17 02:54:16 GMT
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LOUISVILLE, KY. (WDRB) -- The effort to reopen Kentucky Kingdom took another step forward today. The Kentucky Tourism Development Finance Authority gave preliminary approval to the project.
That means a study will be conducted to see whether Kentucky Kingdom LLLP's application is eligible for incentives, which could amount to as much as $10 million over the next decade.
Tourism attractions must have a positive economic impact for the Commonwealth and attract at least 25 percent of its guests from out of state. That study is expected to take six to eight weeks to complete.
The Kentucky State Fair Board approved a lease agreement for the project last week. Kentucky Kingdom closed in 2009. The developers hope to reopen it sometime next year.