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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new lease has been approved for the former Kentucky Kingdom amusement park in Louisville.
The Kentucky Fair Board unanimously agreed Thursday to lease the park to the Koch family, which operates Holiday World theme park in Santa Claus, Ind. Base rent for the 50-year lease will be $400,000 beginning in 2013, increasing until 2016 when it becomes $1 million annually, The Courier-Journal reported.
The park, which closed two years ago amid bankruptcy proceedings, will be renamed Bluegrass Boardwalk and is expected to reopen in May 2013, employing 25 people full-time and 800 seasonal workers, WAVE-TV reported.
The Kochs say the park will feature free soft drinks, sunscreen and inner-tube use at its water park.
Kentucky Kingdom was formerly operated by Six Flags.
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