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Posted: Tuesday, 01 April 2014 11:40PM

Council Delays Action On TIF Agreement



The Hopkinsville City Council Tuesday night delayed action on the Tax Increment Financing Authority agreement with the Bruce Convention Center, while moving forward with the purchase of the former Patriot Chevrolet building on South Clay Street. The Tax Increment Financing Authority met before the Council meeting to discuss changes to the agreement with the Convention Center and forward it on to the Council for approval. Mayor Dan Kemp explained that because of last minute changes to the agreement, the TIF Authority didn't feel comfortable forwarding the measure to the Council.


   
The agreement would essentially allow the Bruce Convention Center to borrow money from the City and pay it back through tax increments. The money would go to pay for public improvements to the area in and around the Convention Center for possible retail and lodging developments in the future.

In other business the council members approved the purchase of the old Patriot Chevrolet building to be used for City and Police Department storage. Chief Financial Officer Robert Martin explained that because part of the property is used as rental space and the City currently leases a storage space, the purchase of the building would actually make money for the City.


   
Councilwoman Marby Schlegel argued that the City has other buildings around town and should not spend the money.


   
The Council approved the purchase along with amendments to the General Fund and Capital Fund budgets to allow for the purchase. The City will buy the building for $275,000 from the Housing Authority with plans for renovations and repairs bringing the total to $320,000. 

The Mayor appointed David Howell to the Dilapidated Structure Hearing Panel and Councilman Wendell Lynch to the Bruce Convention Center Board. Lynch will replace Jeffrey Taylor who recently resigned.

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