I'm so glad to see that other people think like I do in terms of theme park priorities.
The first thing I'd do is scout for new talent--original shows and entertainment with fresh concepts.
I'd also tighten up the theming in all the areas, and add some weenies to the park--aside from the Eiffel Tower (and of course, most of the coasters), there really aren't any, are there?
The area in Rivertown where they used to take the old-time photos (I think that's what was there; near the Wild Thornberrys ride) needs some attention. I'd probably add an enclosed theatre there.
Also, new dark rides. Plenty of 'em. And a few more concert festivals at Timberwolf, especially indie bands--there hasn't been a good concert there since Modest Mouse, and that was what, two years ago?
On that note, the amphitheatre is owned and operated by CF, right? I could see it being managed by an external booking company or something similar, and just happening to be part of the park.