Erie, Pennsylvania (WJET/WFXP) — Conneaut Lake Park may be getting a new owner, but what does this mean for the future of the park and its roller coaster, The Blue Streak.

The park is on the auction and one Pennsylvania company has placed a bid worth more than $1 million.

Officials want to be clear, however, that this is good news for the area.

“There are a lot of people that have been coming here since they have been very young and this park means the world to them, it really does. There is many memories there. Many kids have grown up in this park,” said Karan Fabian, a resident of Conneaut Lake.

The park is currently owned by the Conneaut Lake Park Board of Trustees. It has seen better days, but there remains hope.

The trustees recently received a cash offer of $1.2 million to buy all the assets of the park.

“This is not rides being sold off, this is not the demolition as we know it. This is opportunity to the next level,” said Jim Becker, a Trustee of Conneaut Lake Park.

Becker says it’s more than just the rides that are up for sale.

“It’s all the rides at the park, the land and the property, Hotel Conneaut, the Camperland area, the marina, the permits that go with all of those and the existing leases that we have,” Becker said.

Becker says the company is also planning to expand Camperland, something the current owners wanted to do but never had the money to complete.

“It is being represented to us that he wants to maintain this as an ongoing concern with all of its factions of income generating activity, including the amusement park, hotel, and Camperland,” Becker said.

Crawford County Commissioner Christopher Soff says the idea was never to have the Board of Trustees manage the park forever.

“This is exactly what everyone had been hoping for, that it would return to the private sector and they can bring their resources and continue to keep Conneaut Lake Park the asset that it is for Crawford County,” Soff said.

The Pennsylvania company that made the offer is called Keldon Holdings, LLC.

Becker says on March 2nd there will be a Zoom meeting for all qualified bidders. This would be like an auction to see who has the highest offer.

There could potentially be some big changes coming to the historic amusement park in Crawford County.