A pair of significant 12-year tax rebates were unanimously approved during Tuesday’s Christian County Fiscal Court meeting — in what could be significant business and housing boons for the city of Hopkinsville and its surrounding communities.
Announced two weeks ago by the South Western Kentucky Economic Development Council, a nearly $8 million re-development of the Bradford Square Mall into a new Rural King store is expected to create 170 full-time jobs from managing arm AJM, LLC — including 55 jobs for the Rural King, alone.
This qualifies the company for the county’s 90% corporate tax rebate, and Judge-Executive Steve Tribble noted he’s hearing warm reception from the community about the revivification of that part of town.
He said the rebates are commonplace.
Magistrate Jerry Gilliam agreed, noting there is objectivity involved when considering these decade-long rebates.
Addressing housing, Bluegrass Park LLC was approved for the same 90% corporate tax rebate, set at 12 years.
According to Magistrate Darrell Gustafson, this 41.15-acre development will form on the southside of Pyle Lane — and effectively address a critical shortage of housing stock in Christian County. With 172 residential lots, Gustafson noted the project will begin in three phases — beginning with an $8.9 million, 54-lot investment and eventually ending with a $29 million cost in new housing.
Gustafson said the homes will likely be 1,300-square-foot, two-bedroom, two-bathroom starters — addressing the need for both small families and retirees.
Gustafson added that the purchased farmland opened with an assessed valuation of $285,000 and was purchased at $425,000, and that at $285,000, it qualified for the 90% rebate.
The development will bring about nearly 100 construction jobs to the county.
