The owners of Holiday World & Splashin’ Safari in Santa Claus, Ind., are expected to begin up to $20 million in renovations to a Kentucky park this spring.

The Kentucky State Fair Board has approved a 50-year lease with a group formed by the Koch family for a Louisville attraction that will be called Bluegrass Boardwalk. It should be open in May 2013 with 25 full-time and 800 seasonal jobs, according to a news release.

The deal also includes two renewable leases of 25 years each.

Some of the buisness practices at Holiday World will be adopted at Bluegrass Boardwalk.

They include free soft drinks, suncreeen and free use of inner tubes.

The Koch family takes over the Louisville attraction, which has been closed for the last couple years.

The family also owns Lake Rudolph Family Campground & RV Resort in Santa Claus.

Click here to read the news release announcing this project and to learn other details about Bluegrass Boardwalk.