History Mystery: Come to the Fair!

What we know:  the image is dated 1912 and shows tents and people walking around.  There is a Ferris wheel in the center of the image with children in the seats.  We know it is in Franklin County, Ky.

What we want to know (the mystery): Are these the fair grounds that used to be off Holmes St. in Frankfort? To the right of the image is a wooden structure with an open gallery. Is this the back of the grandstand around the racetrack?  When was the fair in 1912?  Does anyone have any anecdotes or memories about the fair that they would be willing to share?