Sat October 4, 2008
City to Provide Incentives for Inn Purchase
By Carrie Pond
Murray, KY – The city of Paducah will provide about 150 thousand dollars in additional incentives for the buyers of the Executive Inn. Judge-Executive Van Newberry tells the Paducah Sun the city will give Florida developer Bill Parsons the incentive package after ownership is transferred, but declined to comment on what the package contains. Parsons has offered current owner Bhupinder Singh 9 million dollars for the hotel, and though Parsons and city officials are confident the deal will be signed soon, Singh has yet to officially accept the offer. Singh is currently facing a criminal investigation for allegedly overselling deposits for 66 more rooms than were actually available. If funds of more than 40 thousand dollars from the overbooked deposits were diverted for another use, Singh could face felony charges.