This will work but I would suggest adding something on the feeder sites to hook visitors interest or your visitor visit time duration will be low which could impact on perceived feeder site quality in the longer term via serps. Interlink from home to deeper pages so traffic does not appear to have bounced or only visited one page.
Don't link the main sites analytics to the feeder sites and don't place more than 5 feeder sites per analytics account presuming of course you use this. Preferably less.
Do wp themes for feeder sites and something else for main site for example. Vary the themes per feeder and don't target more than say 60 kws per feeder. Dragging php into the mix too offers more diversity which is great for directory sites. Directory sites if properly implemented are perfect for localised kws; 'XYZ Service Texas', 'XYZ Service London' etc.
Do all the simple stuff on the feeders; site map, privacy policy, legal disclaimer, terms of service, contact us etc. Don't make the feeder sites too thin, the days of four page mini sites achieving long term ranking appear to have gone.
Banners ads on the feeder sites with text within images along the lines of 'click here for ....' but don't do as straight text.
Once operational still continue to do SEO for both the feeder and the main site where your own domains are competing against each other. Depending upon the competition of the kws in question, 3 - 9 months from now you should be where you want to be.
If the potential revenue stream from the main site warrants it I would suggest 10 feeder sites so each is only responsible for 10% of the kws targeted and keep the kw grouping tight for each of the feeders as the association of similar kws will help in this laser targeted approach. Once one falters or you come up with another idea to drive more traffic, roll the dice again so you continue to dilute the impact that one domain has on your traffic in case you come a cropper again.
Don't do anything silly or try to be cute like linking one feeder site to another or content duplication. For the work involved it is not worth the risk.
But.......
before doing anything, I would undertake due diligence on the original main site to see if it warrants this kiss of life as sometimes you are simply flogging a dead horse. Often you are better to move on as it can be quicker to achieve the desired objectives with a new site and the fresh domain has not been jaundiced by the historical grey/black tactics that got you penalised in the first place. Not judging, I'm trying to be helpful here
Good luck.