HomeMy WebLinkAboutHighlights2020-08-12
Pam Spencer, Public Information Officer
City of Paducah • P.O. Box 2267 • Paducah, Kentucky 42002
270/444-8669 • Office 270/443-5058 • Fax
Website: http://paducahky.gov Email: pspencer@paducahky.gov
Called City Commission Meeting Highlights
Wednesday, August 12, 2020 at 5:30 p.m.
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Note: Due to the COVID-19 situation and the need to maintain social distancing, all members of the Paducah Board of Commissioners
participated by video and/or audio conferencing.
Commissioner Gerald Watkins was unable to attend this meeting.
City Block Development Agreement (vote August 12)
The Paducah Board of Commissioners approved an ordinance (by a 3-1 vote with Commissioner Richard Abraham voting no)
for a development agreement between the City and Weyland Ventures Development, LLC for the City Block project. This
project includes the development of a hotel, parking, open space, and mixed-use residential buildings located on the 2.88-acre
city-owned block bounded by Second Street, Broadway, North Water Street, and Jefferson Street.
At the July 28 meeting, Bill Weyland and Barry Alberts with Weyland Ventures provided an overview of the company and its
various projects including several projects completed in Louisville, Kentucky, and Dayton, Ohio. Alberts stated that Weyland
Ventures likes Paducah and would like to do more projects after investing $21 million in the City Block project.
In April 2019, the City and Weyland entered into a
pre-development agreement for each party to
undertake various site due diligence for the project
including numerous stakeholder meetings, market
and financial analysis, project development and
design, environmental review and geotechnical
analysis, and parking analysis.
Under this development agreement, the project is
divided into two construction phases. The city-
owned block is divided into three tracts with
Weyland purchasing the two smaller tracts (Tract 1
and Tract 3). The middle tract (Tract 2) is the
largest which will remain under city ownership for
parking and open space.
The first phase includes Weyland purchasing Tract
1 for $141,000 for the construction of a 4 ½ story
boutique hotel, with the final site plan showing 84
rooms, along Jefferson Street. Weyland will invest
a minimum of $12 million in the hotel . The City will review the design of the hotel to ensure the design fits the fabric of the
historic downtown. Also, during this first phase, Weyland will provide improvements to Tract 2 (the middle tract) to create
green space, open space, and parking with the final site plan depicting 172 parking spaces. At this time, this parking lot offers
213 spaces. The City will retain ownership of Tract 2 and will reimburse Weyland for the development expenses.
The second phase of this development is the construction of two mixed-use commercial and residential buildings along
Broadway on Tract 3. Weyland will purchase Tract 3 for $155,000 and will invest a minimum of $9 million into this phase.
Phase 2 could include approximately 18,000 square feet in commercial space with up to 48 upper -story residential units.
First Amendment and Extension to Right of First Refusal Agreement with Riverfront Hotel LP
The Paducah Board of Commissioners approved an ordinance (by a 3-1 vote with Commissioner Richard Abraham voting no)
to amend and extend the agreement with Paducah Riverfront Hotel, LP for the city-owned property located at 501 North 3rd
Pam Spencer, Public Information Officer
City of Paducah • P.O. Box 2267 • Paducah, Kentucky 42002
270/444-8669 • Office 270/443-5058 • Fax
Website: http://paducahky.gov Email: pspencer@paducahky.gov
Street. This is vacant property located adjacent to the City’s floodwall and the Holiday Inn Paducah Riverfront. A nursing
home was the last structure that was on the site before being demolished. In 2015, the City approved an agreement with
Paducah Riverfront Hotel (LinGate Hospitality) for a right of first refusal and an option to purchas e or lease the property.
That agreement expired last month. This ordinance would extend the agreement for two more years with an expiration date
of July 15, 2022, and amend the agreement to allow the developer more flexibility in the type of accommodations to be
developed on the property. In 2015, the City entered into a development agreement with Paducah Riverfront Hotel to bring
the 123-room Holiday Inn Paducah Riverfront which is located next to the convention center complex.
Rezoning of Property at 401 Walter Jetton Boulevard (vote August 25)
The Paducah Board of Commissioners introduced an ordinance to rezone 2.96 acres of property located at 401 Walter Jetton
Boulevard from R-3 (Medium Density Residential Zone) to B-3 (General Business Zone). The site is the former Walter Jetton
High School. The Marian Development Group is planning to purchase the property for a renovation project called The
Dunlap. The project includes 40 one-bedroom apartment units and 20 two-bedroom apartment units. Symphony Auditorium
and the former library would be renovated into a community service facility providing administrative offices, education and
training spaces, and performance space for two arts organizations. The Paducah Symphony Orchestra (PSO) wou ld be one of
the arts organizations using space for their administrative offices and the hall as a secondary performance space. A second a rts
organization is also proposed to occupy and program the space. This ordinance would also approve a parking waiver variance
to reduce the required number of parking spaces from 471 to 179 spaces . At its August 3 meeting, the Paducah Planning
Commission found that the rezoning and parking waiver were appropriate along with the condition that the property not allow
automotive uses of any type in the future.
Quick Highlights
• Municipal order approved for the 2020 -2021 Kentucky Household Hazardous Waste Grant Interlocal Agreement
with McCracken County. This grant funds the spring clean-up day held typically in April. It’s a city-county event with
both government agencies splitting the required funding match.
• Municipal order approved to apply for the 2020 -2021 Edward Byrne Memorial Justice Accountability Grant in the
amount of $11,316. The municipal order amends the one approved in April by reducing the funding request from
$13,094.65 to $11,316. The reduction is needed so that the grant funding will cover the entire purchase of four radios
for the Paducah Police Department without the need for additional City funds.
• Ordinance approved for the refinancing of the 2010B General Obligation Bond. This is the $9.3 million bond
originally issued in 2001 and refinanced in 2010 for the construction of the Paducah-McCracken County Expo Center
and to contribute $3.0 million to the construction of the Carson Center. The 25-year bond issue debt service
payments are funded primarily by the McCracken County Transient Room Tax with any remaining balance shared
equally by the City of Paducah, McCracken County, and the Paducah Convention and Visitor’s Bureau. The bond
market appears to be favorable to refinance this bond at an interest savings estimated to exceed $28,000 per year for
each of the six remaining years.
• Ordinance approved for a budget amendment in the amount of $141,000 for the purchase of Paxton Park grounds
equipment.
• Ordinances approved amending sections of Sect. 126-176 of the City of Paducah Zoning Code. The amendments are
1) to allow for electronic signs in the Mixed Use (MU) and A-1 districts and 2) to provide for an alternative rezoning
approval process, renaming of the section, expanding notice requirements, and reordering and renumbering of the
section.
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