Conneaut Lake Park trustees plan to ask a federal bankruptcy judge Tuesday to allow them to pay off some of the amusement park’s debt by selling parts of the property.
Trustees believe the assets of the park are substantial and could be used to pay off some of the park’s $3.8 million debt and help exit Chapter 11 bankruptcy protection. The board that runs the park filed for protection last year to prevent a sheriff’s sale.
Several groups strongly oppose trying to save the park, including the Crawford County government, a school district and two municipalities who are seeking a total of nearly $1 million in back taxes.
The park is 123 years old and sits just west of Meadville. It’s home to one of the nation’s oldest roller coasters, the Blue Streak.
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