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Holiday World owners pull out of Louisville project

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The chief executive of a company that planned to reopen the former Kentucky Kingdom amusement park in Louisville says the project was scrapped because officials didn't think they would have the freedom under a lease to make decisions quickly and independently.

Bluegrass Boardwalk announced on its website Friday that it was withdrawing from the project due to government regulations and stipulations.

CEO Natalie Koch told The Courier-Journal on Saturday that it wasn't any particular regulation that led to the decision and that officials "agonized over" whether to move forward.

The Koch family also runs Holiday World in Santa Claus, Ind., but it owns the park instead of leasing it. Natalie Koch said the family "spent countless hours trying to make it work" in Kentucky, but they were unsuccessful.

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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