Apex announced plans to close the park in February, and later declared Chapter 11 bankruptcy in early April.
Reports indicate season passes and reservations will be honored, and plans are underway to reopen the resort and the adjacent campground, pending restrictions surrounding coronavirus.
The White County commissioners and county council have been working to develop a financial incentives package for a potential buyer. The package includes $3 million from White County’s Wind Farm Economic Development fund, which was granted to the county to be used for economic development projects.
Terms of the agreement announced Thursday have not been released.
Pulaski County residents were stunned with the announcement in late February that the Indiana Beach amusement park and resort on Lake Shafer had unexpectedly closed.
Thousands of Pulaski County residents have memories summer days spent at the park, which had also provided summer jobs for area teenagers. The nearly 100-year-old tourist attraction was opened in 1926 by Earl Spackman and originally known as Ideal Beach.
Apex, a California-based company, also announced in the same statement in February that it was closing three of its other amusement parks, Fantasy Island in New York, SpeedZone in Dallas and Boomers in Houston.
In February 2008, the Spackman family sold both the amusement park and Indiana Beach campgrounds to Morgan RV LLC. On Sept. 1, 2015, the park was sold to Apex Parks Group.
Following the closure announcement weeks ago, local residents began sharing memories of the beach on social media, many of them noting they “grew up there” and have taken their children and grandchildren to Indiana Beach every summer. Also prominent are the memories of the dances at the beach ballroom and the famous bands that once played there.
The creation of Lake Shafer began in 1922 with the construction of the hydroelectric Norway Dam on the Tippecanoe River, 30 miles north of its confluence with the Wabash River. Construction of the dam was completed in June 1923.
Ideal Beach began as a swimming beach on the new lake, but quickly expanded to include many more attractions as the decades passed.