Business man proposes $40 mil plan to reopen Kentucky Kingdom - 14 News, WFIE, Evansville, Henderson, Owensboro

Business man proposes $40 mil plan to reopen Kentucky Kingdom

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LOUISVILLE, KY (WAVE) - The Louisville businessman who has saved Kentucky Kingdom once before, only to see his most recent proposal to open it shot down, is trying to jump back in the running once again.

The Kentucky Governor's Office confirmed Ed Hart and a group of Louisville investors have submitted a proposal to the fair board to reopen the Louisville amusement park.

A spokeswoman said Hart's proposal included a $10 million investment and a $30 million loan. He added the state would have to guarantee the loan, meaning if the park fails, taxpayers would be responsible for paying it back.

Kentucky Kingdom closed in early 2010.

Hart's deal with the state to try to reopen the park fell apart in 2011.

In 2012, the owners of Holiday World backed out of a plan to reopen the Louisville park as Bluegrass Boardwalk.

Tuesday, Kentucky Governor Steve Beshear directed the fair board, which owns the land where the park sits, to put out a call and find someone to reopen the theme park.

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