The Kentucky State Fair Board is set to meet on February 23, 2012 to vote on an initial agreement for the owners of Holiday World to reopen the shuttered Kentucky Kingdom theme park.
The board will decide whether to enter into a deal with Bluegrass Boardwalk, a new company formed by four members of the Koch Family, which owns Holiday World. If the agreement is approved, then there are likely be further negotiations over the details of how the park's reopening will be financed and a lease agreement for the property.
Bluegrass Boardwalk has previously committed to developing a plan that involves no public money from the Kentucky Legislature. Hotel firm the Al J. Schneider company is claimed to have offered to help finance the project to revive the shuttered park, having previously offered help to former Kentucky Kingdom owner Ed Hart's failed bid.
The group is comprised of Holiday World president Dan Koch, his sister Natalie Koch, cousin Kathy Jamp and her husband Michael Camp (Holiday World's General Manager). It has promised to provide further details of its plans for Kentucky Kingdom (which is likely to be renamed as Bluegrass Boardwalk if the deal goes ahead) via its official website, Facebook page and Twitter account.
Former operator Six Flags announced the closure of Kentucky Kingdom in January 2010, following a failure to agree changes to the park's lease. The Fair Board claims that Six Flags proposed that it pay no rent for the nine remaining years on the lease - instead offering the state a cut of any potential future profits.