Six Flags wants out of New Orleans, offers the city a deal

verticalzero · July 2, 2006

The company that owns Six Flags New Orleans does not want to re-open the flood-ravaged eastern New Orleans theme park, and has sent a proposal to the city that would allow the amusement company to walk away from its 75-year lease, according to documents.

Six Flags Inc. has offered to pay the city $10 million to cover rent to the city, give the city 66 acres of land the company owns adjacent to the park, and give the city 20 percent of its insurance proceeds above $75 million. The amusement parkhas been closed since Hurricane Katrina.

http://www.nola.com/newslogs/tpupdates/index.ssf?/mtlogs/nola_tpupdates/archives/2006_06_30.html#157149