The City of Paducah is holding a Small-Scale Development Workshop on Thursday, March 7 from 9 a.m. until approximately 5 p.m. at West Kentucky Community and Technical College, Crounse Hall, Room 101 (4810 Alben Barkley Drive). A virtual option is available for participants. Information will be provided after registering.
Thank you to sponsors, our Development Leaders for this workshop, FNB Bank and Community Financial Services Bank (CFSB).
The City of Paducah is partnering with Incremental Development Alliance, a national non-profit organization that provides education for small scale developers, empowering them to increase the quantity and quality of their projects. This one-day workshop will help attendees analyze what makes a good project, learn how a building makes money, determine first steps in getting started as a developer with little to no resources, review site selection and project sizing, interpret zoning, and meet people who can help and support a project.
Mayor George Bray said, “As we continue to work through the joint City-County Comprehensive Plan, we have learned from community feedback that increasing the quantity and variety of housing options has emerged as the top theme. The need for housing is a national challenge, and Paducah’s City Commission has prioritized increasing our housing stock at all price points. We reaffirmed this as a top priority at the strategic planning session held this past weekend.”
Workshop sessions include the following:
- Power of the Incremental Approach
- Business Models and Skill Sets
- Right Sizing Your Project
- Building Arts 101
- Market Research and Site Selection
- Zoning
- Project Pro Formas
- Hands-on Exercise: Site Planning and Pro Forma
- Financing a Project/Asking for Money
- Buying a Property/Due Diligence
Mayor Bray added, “We need developers willing to partner with the city and invest their time and expertise to take on projects of all sizes. A group of dedicated small-scale developers working in Paducah could have a tremendous impact in helping meet this challenge along with the opportunity for financial growth. I encourage real estate developers no matter how small or large to register for this workshop. The City of Paducah is committed to increasing our housing stock, and we are looking for dedicated partners to help make an impact in the community.”
The early bird registration rate of $150 is open through February 16 with the regular registration fee of $170 open until March 1. Depending upon available space, the last-minute registration rate will be $190.
Who should attend?
- Individuals in construction, design, planning, or real estate looking to either enhance their current practice or make a career transition.
- Volunteers or professionals in business association, main street associations, historic preservations groups, and neighborhood improvement groups looking to champion incremental development in their communities.
- Public sector professionals in city management, economic development, planning, and related agencies who are looking to make it easier for small development projects to occur in their town.
- Professionals in non-profit development organizations, churches, and community development or housing development organizations who need new strategies for small lot development.
- Private banking professionals specializing in mortgages, commercial real estate loans or SBA loans, and professionals at Community Development financial institutions and community foundations who want to become more effective investors.
If you have a question, contact Paducah Business Development Specialist Melanie Reason at 270-444-8690 ext. 2097.
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In addition to this Small-Scale Development Workshop, there are several other real estate and development educational and networking opportunities.
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Southside Neighborhood Incentives - The City’s Southside Neighborhoods Initiative includes two housing incentive programs and two business grants. Applications for the housing incentive program are open year-round. Business grant applications will be advertised this spring.
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Preparing Clients for Success - The City of Paducah will present a spring seminar with Aaron Harned from the Paducah Small Business Development Center (SBDC) geared toward empowering realtors to prepare clients to buy or sell businesses.
