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.