State grant to help fund downtown Paducah demolition project

The city of Paducah says it will receive $500,000 from the state in Community Development Block Grant funds for a demolition project on Broadway Street. 

The funds will be used for demolition of a condemned building at 432 Broadway Street that the city bought for $1 in July from a limited liability company. City spokeswoman Pam Spencer said in an announcement Tuesday that the grant requires a $125,000 match from the city. 

Spencer said the city researched the costs of demolition compared to stabilization of the building. Estimates for stabilization were between $1.9 million and $2 million, but demolition estimates were between $432,000 and $657,000. 

The city says the project should be finished by the end of February.

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