PADUCAH, KY (KFVS) - A groundbreaking ceremony was held on Monday, Oct. 19 for a new Paducah riverfront hotel.
The ceremony was held at 11 a.m. on 600 North 4th Street, the former site of the dome pavilion.
The Paducah Board of Commissioners introduced the ordinance at their meeting on Tuesday, June 23.
The ordinance was for a development agreement between the city and Paducah Riverfront Hotel, a development team more commonly known as LinGate Hospitality that has experience building and managing hotels.
The board said the development team will bring an upscale 123-room Holiday Inn to Paducah. It will be adjacent to the Julian Carroll Convention Center on the 1.4 acre site at 600 North 4th Street that has housed the dome pavilion.
They say the hotel will also include meeting spaces, a pool and a fitness center in addition to the restaurant, Another Broken Egg.
According to the board, this is an $18 million project considering the development, construction and equipping of the hotel.
Regarding the city's commitment to the project, the city of Paducah will lease the hotel property to the developer for a term of 20 years with the property to revert to the developer at the end of the term. The city will also provide a one-time allowance of $900,000 for site upgrades and construction.
The developers are in the process of making an application to the Kentucky Tourism Development Commission for sales tax credits and plan to break ground on the hotel later in 2015.