The Courier-Journal reports that, earlier this week, the Kentucky Fair Board approved a deal to take over Six Flags’ stake in the now-closed Kentucky Kingdom site.
The fair board’s tentative agreement with Six Flags includes:
* Forgiving $2.8 million in lease-related payments owed by Six Flags.
* The Kentucky Finance and Administration Cabinet and in the Department of Revenue agreeing to accept Six Flags’ release of its fairgrounds property rights in lieu of pursuing collection of $2.5 million in back taxes. Six Flags had contested the back tax claim in court, but agreed to the provision, Workman said.
* The fair board giving Six Flags $2.35 million — money to be passed through from Hart — for about 20 acres of amusement park land that Six Flags owns outside of the Circle of Champions (Ring Road). The fair board will get all of the rides on that 20 acres and also all the improvements on about 30 other acres — also outside Circle of Champions — that Six Flags has been leasing from the fair board.
The fair board will reclaim about 10 acres inside the circle that Six Flags has been leasing. That land includes the two-story Kentucky Kingdom office building that Workman said the fair board is already using; several small buildings and a park amphitheater probably will be cleared, with several rides outside the circle to be offered to Hart.