Board of Commissioners approve first reading of ordinance for municipal bonds

During Tuesday evening's Paducah Board of Commissioners meeting, an ordinance was introduced to issue General Obligation Bonds in the approximate principal amont of $27.82 million.

The funds will be used foe two important projects, the Paducah Sports Park and the Riverfront Infrastructure Improvement Project.  The bond would be for 20 years.

Mayor George Bray told commissioners he received an email from U.S.A. Hospitality that the agreement has been signed with Marriott for the construction of a Marriott Aloft hotel on the property at 519 North 3rd Street. 

This property is adjacent to the Holiday Inn Paducah Riverfront and within walking distance to the Paducah Convention Center complex in downtown Paducah.

The hotel, a $15 million private investment, is proposed to have four stories and approximately 120 rooms. Groundbreaking is expected next spring.

Outgoing commissioner David Guess was presented with an appreciation plaque for his years of service to the city.  He first served as commissioner from 2003-06 and has been on the board since 2021.