State purchase of Rocky Point gets court OK

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Entertainment,Travel

PROVIDENCE, R.I. (AP) — The state's purchase of 82 acres of the former Rocky Point amusement park in Warwick has cleared what is likely to be the final major hurdle.

The purchase-and-sale agreement between the Rhode Island Department of Environmental Management and the U.S. Small Business Administration was approved in federal court in Providence Wednesday.

The state is spending about $9.65 million out of a $10 million open space bond approved by voters in 2010. The State Properties commission approved the deal last year.

The SBA is the court-appointed receiver for Moneta Capital, which owned the property before it went into receivership.

Gov. Lincoln Chafee says the court approval brings the state significantly closer to preserving the "iconic property." There is a 30-day appeals period.

The sale will triple the public open space there.

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