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Partly cloudy skies. High 86F. Winds light and variable..

A few clouds from time to time. Low near 65F. Winds light and variable.

Graves County could be the home of a new, state-of-the-art 87-room hotel.

Local investor Al Nathu and his attorney, James Parsons, presented new hotel plans to the Graves County Fiscal Court on Monday, in hopes of building a new Hampton Inn.

Nathu said he already has a franchise approval in place to build the hotel, located on Bryan Drive, off Exit 25 of Interstate 69, behind Cracker Barrel. The hotel would be one of the brand’s newest designs based off Hampton Inn’s 2019 prototype. The four-story facility would offer meeting rooms, an indoor swimming pool and a fitness center.

The $10 million investment is projected to be finished by March 2025 provided everything goes as planned. Parsons and Nathu came before the court to request a pledge of assistance and the creation of a new TIF district to help with finances. Currently the county receives very little revenue in property taxes from the 2 1/2 acres the hotel would be built on as it is currently used for agriculture.

TIF districts are primarily used to help local governments and municipalities spur development in underperforming or declining areas.

The Kentucky League of Cities explains a tax increment financing as 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. The captured value of the increase in tax revenues is used to attract private development or finance public improvements for economic development projects.

A tax increment is the difference between the amount of occupational and property tax generated before creation of a development area and the amount of tax revenue generated after creation of a development area. Taxing districts continue to receive the base tax amount while tax increments are used to fund the public costs of development. In other words, growth is used to pay for growth according to the KLC.

“If you leave this as farmland, and this is what I would say to anybody considering what Jim said, to participate in this, currently you are getting next to zero for this two and a half acres, just a very few small dollars,” said Judge/Executive Jesse Perry. “But when you put a hotel on this, then it becomes commercial property and then your tax assessments and appraisals, this will be, you know it’s a $10 million investment so then you start running numbers off those investments.”

“Probably the last 15-20 years, I’ve always heard that Mayfield and Graves County has needed a nice hotel and today we are sitting there, and I’ll go ahead and say it, we’re going to make history if this goes through. This would be history for our group. History for our county,” Perry said.

Another presentation and public hearing will be held at the next meeting of the fiscal court.

Jim Codell, with Codell Construction, the construction company contracted to demo the Graves County Courthouse and American Legion building, updated the court on the bid process again. The court approved Codell Construction to advertise again for a request for proposals of the demolition work.

In July the court approved its yearly bid for concrete services, in addition to other routine yearly bids. The bid was awarded to Smyrna, but after receiving an invoice, a fuel surcharge had been added. According to Perry, the surcharge was not included in the bid, and brought it before the court to review.

After discussion, the court decided to award the bid to West Kentucky Concrete.

In other business, the court:

• Approved Memorandums of Understanding with Graves County Board of Education and Mayfield Independent Board of Education to use school buildings as storm shelters until other shelters are identified.

• Approved a resolution with workforce development to allow the fiscal court to work with other counties in an effort to receive federal funding.

• Approved the surplus of a 2015 Dodge Charger, VIN#2C3CDXAG5FH501027.

• Approved the surplus of a John Deere Excavator 225 CLC RTS, SN#rh88645-NB3362.

• Approved the surplus of a John Deere Tractor 2 Wheel Drive, SN# lv5420s443173.

• Approved the surplus of a 10’ Bushhog Tractor.

• And, approved a donation of $12,000 to New Beginnings Women and Children for assistance after the tornado.

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