Fountain Avenue Commercial Construction Financial Assistance Program

The Paducah City Commission last night introduced an ordinance creating a commercial construction financial assistance program aimed at improving the city’s Fountain Avenue Neighborhood. The program provides incentives to property owners spending a minimum of $100,000 constructing new commercial buildings. Property owners can receive a five-year, forgivable loan for as much as $20,000. However, the commission limits the program’s total budget to only $40,000. Paducah Planning Director Steve Ervin says helping initial private commercial investments will generate more confidence in future commercial development in the Fountain Avenue Neighborhood. The commission plans to vote on the ordinance August 28.