When last we reported on the planned reboot of New Line Cinema's Police Academy franchise, Scott Zabielski was attached to direct.  He's no longer in the picture, but Keegan-Michael Key and Jordan Peele are now signed on to produce the film.  The seven-film franchise featured a group of quirky and hilariously unexceptional police recruits tasked with bringing law and order to city streets.  There's no word just yet as to whether or not they would also star, though their style of humor on the sketch comedy show Key & Peele certainly makes them well-suited.  Hit the jump for more.

THR reports that Key and Peele are on board to produce the Police Academy reboot, which has been in the works for some years now.  Paul Maslansky, who produced the original 1984 film starring Steve Guttenberg, is also back to produce the reboot.  Here's what Maslansky had to say about the project:

"It's going to be very worthwhile to the people who remember it and to those who saw it on TV. It's going to be a new class. We hope to discover new talent and season it with great comedians. It'll be anything but another movie with a numeral next to it. And we'll most probably retain the wonderful musical theme."

Key and Peele will return for a fourth season of Key & Peele on Comedy Central, and will appear in four episodes of the FX series Fargo as FBI members.

If you're not familiar with Police Academy, watch the trailer for the original film below: