The Paducah Board of Commissioners has approved an agreement with McCracken County to lease $3 million to repay the city approximately $1.4 million for the costs associated with relocating the Convention Center dome and storage building.
The dome was relocated to make room for hotel construction. Paducah Public Information Officer Pam Spencer said work to relocate the dome was completed earlier this year with the hotel in its final stages of construction. The inflatable facility has housed Quilt Week every year since 2009.
The remaining money will fund capital needs for the Julian Carroll Convention Center.
The money is being leased from Community Financial Services Bank over a 15-year term.
City Finance Director Jonathan Perkins says neither the city nor county will be paying for the loan; instead will be paid off by the people staying in hotels through the county’s transient room tax.
Note: This story has been updated to clarify that the funds will be used to repay the city and that the dome has already been relocated.