Koch family wins incentives to reopen Kentucky theme park

The family that owns Indiana's Holiday World will get as much as $3.9 million from the state of Kentucky over the next decade to reopen a shuttered amusement park in Louisville.

Bluegrass Boardwalk is the name planned for the former Kentucky Kingdom by the Koch family, which runs Holiday World theme park in Santa Claus. The Kentucky Tourism, Arts and Heritage Cabinet says Bluegrass Boardwalk proposes investing $15.6 million to open the park in 2014.

The Kentucky Tourism Development Finance authority approved the incentives at a meeting Wednesday. The cabinet said in a statement that the net fiscal impact is projected to be about $48 million over the 10-year period. That estimate includes a lease agreement with the Kentucky State Fair Board.