Metro council cmte. takes up Ky. Kingdom incentives - WDRB 41 Louisville News

Metro council cmte. takes up Ky. Kingdom incentives

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LOUISVILLE, Ky.  (WDRB) -- Louisville metro government inches closer to helping fund the reopening of Kentucky Kingdom.

The metro council budget committee Thursday night approved an agreement for the city to pay $100,000 a year as long as the park meets specific, yearly job targets.

That includes the creation of more than 700 jobs by 2017.

Occupational taxes will also generate $100,000 a year.

And the Louisville Convention and Visitors Bureau will provide $100,000 a year for five years.

The city gets a refund of some of its investment if the park is sold.

The full council must still approve the deal.

A group led by developer Ed Hart has signed a long-term lease, and hopes to reopen the park by next summer.

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