City Block Project Vision
Note: Images on this page are concepts for illustrative purposes only.
The City Block Development Project is Paducah’s first major private development project within the Downtown Riverfront TIF District.
Focusing on the growth of Paducah, the City Block Project will bring a new, 3-acre multi-use development to Downtown Paducah. It creates a new Downtown destination that catalyzes economic growth, supports our creative industries and tourism sector, provides more housing options for our changing population, connects Downtown to nearby landmarks, and facilitates the completion of Paducah’s Riverfront Park.
The Vision
To advance transformative projects that improve Paducah’s quality of life and move our city, county, and region forward.
To create places and spaces that attract people of all ages and strengthen our local and state economy.
To unlock the untapped potential of Paducah’s riverfront for recreation, hospitality, and commerce.
To honor our history and heritage through the ongoing restoration and preservation of our beautiful historic Downtown.
To ensure that future growth complements and reinforces that which came before.
To connect people and places together for a stronger, more resilient Paducah.
The Concept
The site is a 2.88-acre parcel located in Downtown Paducah that is bounded by Broadway, 2nd Street, Jefferson, and Water Streets. City Block, also known as the gazebo lot, is at the heart of Paducah. It's where people meet. It's our foundation. As such, high standards are demanded by our Development Program Goals and Design Features.
- Connectivity Design Space to Visually and Physically Connect Historic Downtown, Existing Arts and Cultural Landmarks, and Paducah’s Riverfront
- Town Square Create a Vibrant and Multi-Functional Downtown Destination That Encourages People to Gather, Spend Time, and Support Local Businesses.
- Vibrancy Create Vibrant Streets and Sidewalks that Are Friendly, Welcoming, and Safe for People
- Strength Strengthen Public Use of the Corner of 2nd and Broadway
- Rhythm Re-Establish the Historic Rhythm of Buildings along Broadway and Jefferson
- Parking Maintain off-street parking, and design parking lot to be flexible for public events, festivals, outdoor markets, etc.
Our Economic Tool - Tax Increment Financing District (TIF)
Tax increment finance is a financing and development tool that permits local governments to capture future increases in property and other taxes generated by new development within a specified development area. In Kentucky, taxes collected by the State also are eligible to be directed back to the city, which is a completely new revenue source for the city. The captured value of the increase in tax revenues is used to finance public improvements and to attract private development projects. Eligible public expenditures include parks and open space, public parking, transportation and pedestrian improvements, and environmental remediation on historic properties. To learn more about TIF Districts in Kentucky, read the Kentucky League of Cities TIF Explanation.
Paducah's Tax Increment Financing (TIF) Frequently Asked Questions
March 2019 - The City of Paducah and McCracken County passed a resolution and executed an agreement to establish the area’s first Tax Increment Finance District (TIF).
August 2019 - Paducah received Preliminary Approval by the Kentucky Economic Development Finance Authority (KEDFA) for Paducah’s Downtown Riverfront TIF District.
March 2021 - Paducah received Final Approval by KEDFA. News Release - Final Approval of Paducah's TIF
Please watch the 2-minute video below to learn the structure of Paducah's TIF and the benefits.
History of the 100 Block of Broadway
In the following River Revelations video produced by Paducah 2 through the administration and facilities of West Kentucky Community & Technical College, learn about the history of the 100 block of Broadway including the businesses that at one time graced the block, the plans for the block that never came to fruition, and how it became a parking lot with potential.
