Paducah Officials to Seek New Proposals for Riverfront Hotel Project
Paducah city officials are looking for a new developer for the long-planned Riverfront Hotel project.
The multi-million dollar downtown project was delayed earlier this year when developer Senate Hospitality missed an important deadline for financing the city’s deal.
City information officer Pam Spencer says there’s currently no timeline to finish a new draft proposal, and the city is considering re-evaluating the its incentive package.
“So that could be in the future, looking at each development project," said Spencer. "There’s still discussion about what to put into the requests for proposals regarding city incentives or state-type incentives. But any financing or city incentives will be customized to each develop project."
Spencer says if there’s a contract with a new developer there will also have to be new architectural plans.
The proposed Riverfront Hotel will be adjacent to the Julian Carroll Convention Center and is expected to create 100 full-time job and generate more than $600,000 in annual tax revenue for the city.