LOUISVILLE, KY - A group of Louisville business leaders wanting to reopen the Kentucky Kingdom amusement park says it will present its offer to the state as part of a competitive process to determine the park's next operator.

The group led by developer Ed Hart said Tuesday it notified state fair board leaders that the group will compete for the right to revive the Louisville amusement park.

Hart says his group is encouraged by a timetable set by state officials to name a park operator by this fall. Hart says that extending the search beyond that would jeopardize his group's ability to reopen Kentucky Kingdom as a full-fledged theme park by 2014.

Hart's group has outlined a $40 million proposal to reopen the park.

The park has been idled since the 2009 season.