The City of Paducah has created an effective and exciting toolbox of programs through the Planning Department to encourage development, beautification, rehabilitation, and stabilization of the Historic Downtown Commercial District. Our goal is to encourage vibrant streets, increased residential density, and thriving businesses. The programs are as follows:
Assistance also is provided in completing state and federal applications for historic tax credits.
Any person interested in obtaining assistance should contact Melinda Winchester, Downtown Development Specialist at 270-444-8690.
In this Paducah View episode, learn about the downtown programs.
Through this application, artists can set up to sell or demonstrate their artwork. The areas that artists can use are the downtown gazebo at 2nd and Broadway and the Texaco Station Information Center at the corner of North 7th and Madison Streets.
The Downtown & Market House Historic District Assessment and Reassessment Tax Moratorium encourages the repair, rehabilitation, or stabilization of existing properties in the district that are at least 50 years old by providing a program in which the property tax paid to the city would be frozen at the pre-renovation assessment for five years.
For a property to be eligible for this moratorium, it must receive more than $75,000 worth of improvements. This moratorium does not affect the amount of tax paid to the City school system or to McCracken County. To be eligible for the program, an application must be filed with the Planning Department prior to the renovations to the building. After the application is submitted, the Property Valuation Administration (PVA) would assess the property. Then, the property owner has two years to complete the renovations unless granted an extension. Once the renovations are complete and reviewed by the Planning Department, then the moratorium certificate will be issued granting five years of City property taxes at the pre-renovation assessment.
The purpose of the Historic Downtown New Business Grant Program is to provide for the creation of new businesses within Historic Downtown Paducah. The redevelopment of buildings is crucial to maintaining an economically strong Downtown Commercial District, a commercial area where the image, appearance, and environment encourage the attraction of shoppers. The intention is to provide financial resources to assist new business owners locating to Historic Downtown Paducah.
Facade Grant Eligible Improvements
Funds are allotted each budget cycle for the stabilization and replacement of roofs in the Historic Downtown area. At specified times during the fiscal year, the City of Paducah requests applications for the purpose of roof replacement or roof stabilization in the Roof Stabilization Project Area.
To qualify for assistance under the Roof Stabilization Assistance Program (RSAP), an applicant shall submit a complete application; three bids from the list of qualified contractors; and proof of financial ability from a qualified financial institution. The City of Paducah reserves the right to approve or deny any application. Grant awards will be given based on availability of funds.
Applications will be ranked in accordance with the following criteria:
The Upper Story Residential Grant Program is designed to encourage upper story residential rental units in Paducah's Historic Downtown. Property owners/developers within a defined area in historic downtown will be eligible to apply for financial assistance to create new upper story living spaces in new or existing buildings. The grant shall not exceed 20 percent of the construction costs or a maximum of $15,000 per Upper Story Residential Rental Unit. For a residential owner-occupied unit, the grant is either 15 percent of the construction costs or a maximum of $15,000 per unit.
This program is through the City of Paducah Planning Department with the Urban Renewal & Community Development Agency (URCDA) overseeing the allocation of funds up to $60,000. For projects that exceed an allocation of $60,000, the project will be forwarded to the City Commission for approval.
To apply for the Upper Story Residential Grant Program, complete an application and submit the following items: