Three sets of developers are battling over the rights to purchase a former Six Flags theme park abandoned in 2005 because of severe flooding stemming from Hurricane Katrina, after a committee was formed to accept and research proposals from developers who want to buy and then develop the site.

The abandoned site in New Orleans, Louisiana, nowadays frequented mainly by vandals or trespassers, is owned by the city and was recently appraised for US$3.2m (€3m, £2.6m), with the board emphasising that the resulting development proposal for the land will be key to any decision made.

Entrepreneur Frank Scurlock has made a US$4.5m (€4.3m, £3.6m) bid for the site, with his multi-billion dollar proposal to include an amusement park and new resort hotel with a beach swimming pool.

Scurlock's plan includes a US$120m (€106m, £84m) first phase to restore the park with 30 different rides themed by Louisiana festivals, such as Jazz Fest, Voodoo Fest and the Ponchatoula Strawberry Festival, offering a year-round version of the state’s big events.

Developer Tanya Pope has also tabled a bid of US$3.26m (€3.1m, £2.6m) for the site, with the aim of opening a new musical-themed park, dubbed Jazzland – the name of the park when it first opened almost two decades ago.

According to Pope, the new attraction would include Jazzland Theme Park, Baritone Beach Waterpark, the Sportsman’s Paradise Resort Hotel and a retail and dining complex. Pope’s company, TPC-NOLA, has said that work would start as soon as a sale was agreed and that the US$50m (€44.2m, £35m) project is designed to showcase the state of Louisiana.

Lawyer Henry Klein is the final bidder, offering US$5m (€4.7m, £4m) for the site to develop “Project 3090”. According to Klein, his proposal would bring a concert venue to the site, with five-to-six major events to take place there each year.

With three bids tabled, other developers can submit a bid to buy the site. The committee will then address the bids at its March meeting.