City of Owensboro, Daviess Fiscal Court make hotel bid

The city of Owensboro and Daviess Fiscal Court have submitted a formal offer to Marshall Investments to purchase the Executive Inn Rivermont.

The offer was made last week by the two government bodies, but details of the offer including the proposed purchase price won’t be released, said Downtown Development Director Fred Reeves.

The announcement came after a closed-door meeting of the city commission and fiscal court Friday morning in which elected officials decided Reeves will be the point person in the drive to secure ownership of the 17-acre riverfront plot that contains the closed 600-room hotel.

Reeves said he had heard nothing from Marshall since the offer was submitted, but hoped to hear back early next week. There was no deadline attached to the offer, Reeves said.

Advertisements

City, county to hold closed session Friday on Executive Inn

Owensboro City Commission and Daviess Fiscal Court will be meeting in closed session on Friday to discuss how to handle the recent closure of the city’s largest hotel.

Mayor Tom Watson said Wednesday afternoon that officials will discuss the Executive Inn Rivermont, which closed last month, and what options local government might have for taking control of at least a portion of the property.

Ownership of the hotel shifted June 9 from owners Minnesota/Owensboro Executive Inn to Marshall Investments, the firm that held the mortgage on the property and pushed for foreclosure after the hotel’s owners fell behind in their payments.

Since then, speculation has been rampant about the potential sale of the 600-room hotel and convention center, with at least one potential purchase deal falling through earlier this month.

“We’re trying to place ourselves in a position of unity on how to continue an effort to deal with Marshall Investments about taking that property off the (tax) rolls,” Watson said. “If there’s an opportunity to purchase it, we want to try to see if there’s a way to do it that everybody can agree on.”

The closed session will begin at 9 a.m. Friday in Room 406 in City Hall at 101 E. Fourth St.

Read the full story in Thursday’s Messenger-Inquirer.