After years of treading water, it looks like the long awaited “Ark Encounter” amusement park is about to sink.

According to multiple reports in LEO Weekly (a Louisville publication), AiG said in January 2011 that ground would be broken on the project that spring. Then in May of that year, AiG said groundbreaking would be over the summer. In June, AiG said construction would begin in August. By early August AiG still had not broken ground but promised that it would happen “in the next few months.”

Then in late August 2011, AiG bumped the timetable way back, saying groundbreaking would begin in the spring of 2012.

Last we heard, AiG President Ken Ham said he hopes the Ark Park will open in 2016. Now it looks like even that is unrealistic because a last-ditch effort to save the project with municipal bonds is going nowhere.

Americans United noted in November that the city of Williamstown, which already gave the overtly religious park a 75 percent property tax break, decided it would sell $62 million in municipal bonds starting in December for AiG affiliates.

That hasn’t quite worked out. The Louisville Courier-Journal reported last week that while $26.5 million in bonds have been sold already, the city must sell an additional $29 million by Feb. 6 or else those who already bought bonds will be able to collect on their investment immediately.

Read more: “Has The ‘Ark Park’ Run Aground?: Ky. Biblical Theme Park Has Only Weeks To Raise Millions”