WHITE COUNTY, Ind. – White County approved a $3 million forgivable loan to Indiana Beach as the amusement park aims to reopen.
White County commissioners and County Council members voted in favor of the loan Monday night. As a condition of the loan, Indiana Beach would have to reopen this summer (an extension would be allowed into 2021 if the coronavirus pandemic doesn’t allow for a 2020 reopening).
The park must hire at least 200 new employees between 2021 and 2025. If Indiana Beach defaults on the loan, White County would be able to take over the lease.
White County Commissioner David Diener said all passes to the amusement park and cottages, hotel and campground reservations paid to the previous owner of the property will be honored for the 2020 season. However, the new owner is under no obligation to provide refunds.
The park has not set an opening date yet. Indiana Beach Holdings LLC is now owner of the park, having bought it before its previous owner, Apex Parks Group, declared Chapter 11 bankruptcy.
Apex announced in February that Indiana Beach would close permanently because it had not been able to find a buyer.