Lady Luck owners have big plans for Kodak Theater in Hollywood

They're not showing their hand when it comes to the Lady Luck in downtown Las Vegas, but CIM Group is making big plans for the Kodak Theater in Hollywood that include some help from the taxpayers.

The Los Angeles Times is reporting that Hollywood-based developers CIM Group, owners of the shuttered Lady Luck, are seeking a $30 million loan from the city of Los Angeles to retrofit the Kodak Theater so it can accommodate a Cirque du Soleil show.

The Times reports: "CIM Group currently leases the Kodak Theatre within the mall and hopes to bring the acrobatic circus company to the theater beginning 2011. CIM has agreed that in exchange for the loan, they and their partners would pledge to create at least 858 jobs."

City officials in Las Vegas have insisted they have no intention to ask the local taxpayers to help CIM revive the Lady Luck. And CIM has so far been keeping a low profile about its plans for the project, which they had promised to put on a fast track back when they were seeking an exclusive negotiating agreement to buy some city land adjacent to the property.