Gov. Beshear 'hopeful' deal can be reached to reopen Kentucky Kingdom

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by WHAS11

WHAS11.com

Posted on November 20, 2012 at 5:42 PM

Updated Tuesday, Nov 20 at 6:00 PM

LOUISVILLE, Ky. (WHAS11) -- Three months after suggesting it may be time for the state to find a different use for the Kentucky Kingdom property, Governor Steve Beshear now tells WHAS11 he's hopeful a deal can be reached to reopen the amusement park.

"Well, we're talking and we'll see how that goes. But, obviously if there's a deal to be made that is good for the Commonwealth then we'll make one," said Beshear, "I'm hopeful that we'll come up with a deal that works. I really don't have any idea at this point whether we will or not, but we're positive about it.  We're approaching it in that light."

After their first meeting two weeks ago, neither the state or an investment team led by developer Ed Hart has revealed the status of negotiations for his group to re-open the park. 

The proposal calls for a $120 million investment and would use the park rides as collateral for a private loan instead of the burden falling on taxpayers.

Since 2010, two plans for reopening  the theme park have fallen short. Hart's group failed to reach an agreement with the Fair Board in 2011, and earlier this year, Holiday World owners pulled out of their deal.
 

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