EDC to announce new loan program for downtown

The Greater Owensboro Economic Development Corp. will announce plans for a loan program to promote investment in downtown Owensboro this morning. 

EDC Chairman Darrell Higginbotham, who is Daviess County president of Independence Bank, will provide details about the new Downtown Owensboro Revitalization Loan Program at a 9 a.m. CST press conference at the EDC offices at 200 E. Third St. in Owensboro. 

Officials said Monday they anticipate private investment to be at least twice as much as the $79 million investment proposed by the city of Owensboro and Daviess Fiscal Court. 

“If we invested $80 million, if we didn’t get $200 million (in private) investment, that would surprise me very much,” said Fred Reeves, downtown development director, told the Messenger-Inquirer on Monday.

The loan program will begin with a capitalization of $2.5 million by “trustee-level investor banks” that are members of EDC and plan to invest “.00005 percent of their deposit share to promote the work of economic development in Greater Owensboro,” according to the EDC.

The language of downtown development

The Greater Owensboro Economic Development Corp. has a piece on its blog explaining some of the terminology that many planners and designers use when discussing the future of downtowns. 

The piece does a good job of “decoding” the language that has permeated much of the talk this week in Owensboro as part of the downtown master plan design workshops at The Commerce Center and explaining some of the goals of what is being called the “new urbanism.”

Check out the post, along with the EDC’s package of Owensboro Urban Design Guidelines.

And be sure to attend the final public session of the week of design workshops at the RiverPark Center at noon Friday. The Gateway Planning Team will be presenting another draft of the downtown master plan to the public.

GO-EDC board pushes for city, county to buy Executive Inn Rivermont

The Greater Owensboro Economic Development Corp. board issued a position statement Wednesday morning in support of the city and county governments making a move to purchase the Executive Inn Rivermont property.

The statement comes after city and county officials put forth a bid for the property more than two weeks ago. That bid expired after Marshall Investments, the owner of the 17-acre hotel property, failed to respond.

Downtown Development Director Fred Reeves, who is handling any negotiations between local government and Marshall, said last week that a second bid is possible, but there were no firm plans to make another offer. Continue reading