Kentucky Ark Park Transfers Land Back to For-Profit Affiliate
Officials of a Noah's Ark theme park have sold their main parcel back to a for-profit affiliate days after Kentucky's tourism agency said the park had breached an incentive agreement that would refund a portion of the sales tax collected at the site.
The Lexington Herald-Leader reports the issue began in June after Ark Encounter transferred the property to its nonprofit affiliate Crosswater Canyon for $10.
It was switched back to Ark Encounter on July 21 after the Kentucky Tourism Arts and Heritage Cabinet suspended a tax break worth up to $18 million for the biblical attraction.
Mark Looy, co-founder of Ark Encounter's parent body, Answers in Genesis, said on Monday they needed to keep options open, but didn't explain the two land transfers.
The 510-foot wooden ark opened in July 2016.