Kentucky has approved tax incentives for the owners of Holiday World & Splashin’ Safari in Santa Claus, Ind., to reopen shuttered Kentucky Kingdom amusement park as Bluegrass Boardwalk, InsideEdge.com reported.
The online news service reported that the state’s Tourism Development Finance Authority will give the developers nearly $4 million in incentives over the next 10 years to boost the $15.6 million project.
Last month, the Koch family detailed the failing condition of the park and asked for the tax breaks.
The group will also ask to open the park in 2014, rather than the originally anticipated 2013 opening date.
Bluegrass Boardwalk officials are expecting the finances to be in order by the end of the month.
The Koch family also owns the Lake Rudolph Family Campground in Santa Claus.