Developers close on loan for new downtown Paducah hotel

Developers of the Holiday Inn coming to downtown Paducah closed on their loan Wednesday morning.

Representatives from LinGate Hospitality, Independence Bank, and the City of Paducah signed the documents at City Hall.

LinGate had to wait 30 days to get the state’s full approval for $12 million in industrial building bonds.

The new hotel will replace the Executive Inn that used to sit at 600 North 4th Street.

Last month, the city broke ground on the project.

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