LOUISVILLE, Ky (WHAS11) -- The operators of Bluegrass Boardwalk cleared a major hurdle Wednesday afternoon. The Kentucky Tourism Development board approved nearly $4 million in tax cuts for the group looking to replace Kentucky Kingdom.
The Koch family, owners of Holiday World and operators of Bluegrass Boardwalk have long said that tax incentives from the state were crucial to them paying for Bluegrass Boardwalk. They plan to pay the rest of the $15.6 million dollar cost through their own funds and bank loans.
Wednesday Holiday World General Manager Michael Kamp said Bluegrass Boardwalk is still awaiting approval of bank financing, but they hope to sign a lease with the State Fair Board by August. They plan to open in 2014. Meanwhile, the first job opening has been advertised on their website. Blue Grass Boardwalk plans to offer 25 full-time and 800 part-time positions when open.