Kentucky– The Kentucky Tourism, Arts and Heritage Cabinet approved $125 million for five Kentucky tourism destinations. The funding, which is pending approval by the Kentucky General Assembly, would be used to create public-private partnerships (P3) for the attractions. The projects include constructing a lodge or resort facility at Yatesville Lake, constructing or renovating the lodge facilities at Natural Bridge, constructing Agri-Plex at the Kentucky Exposition Center, constructing the Gate One Hotel at the Kentucky Exposition Center and constructing a hotel development at the Kentucky Exposition Center.
Last year, the Cabinet received an unsolicited proposal for the Yatesville project which trigged public comment and a competitive process. Kentucky’s 49 state parks alone need more than $240 million in improvements, but state funding alone is currently not available to make the parks more of a draw for tourists and Kentucky residents.