Today the Greater Owensboro Economic Development Corporation (GO-EDC) issued a Request for Proposal (RFP) seeking a qualified developer for a new downtown hotel as part of the $120 million package of catalyst projects in the Downtown Owensboro Placemaking Initiative.
This RFP is a solicitation process, which is expected to culminate in a negotiated agreement between the City of Owensboro and a qualified private developer to develop and construct the convention center hotel and related infrastructure.
GO-EDC will select a developer for the Hotel project subject to the approval of the Owensboro City Commission. An RFP Review Team consisting of EDC staff, Gateway Planning consultants, and City and County staff representatives will review and recommend the potential developer.
Several state incentives may be available to the developer of this project, including, but not limited to, incentives from the Kentucky Tourism Cabinet. In addition, the site of the proposed hotel is located in an area that qualifies for New Markets Tax Credits financing.
EDC President/ CEO Nick Brake said respondents to the RFP will be expected to utilize hotel operators that will provide a “full service” hotel recognized by the convention and meetings markets.
Brake said respondents are encouraged to bring to the project a team of architects and construction professionals with proven track records that meet the goals of the development, adding that the Hotel should operate as a corporate managed, national or international chain-affiliated property positioned to primarily accommodate convention and group-meeting demand. “The quality and level should be consistent with the quality of similar headquarters hotels in other North American cities,” he said.
In order to encourage broad participation by the development community and in recognition of the strong interest in Owensboro’s hotel market, developer responses to this RFP are due, August 1, 2009. GO-EDC expects to conclude selection of a development team for recommendation and finalization by December 31, 2009. “The RFP will be advertised both regionally and nationally in hopes of attracting strong interest among the local, regional, and national development community,” said Brake.
The Downtown Owensboro Initiative generated a market-based Downtown Master Plan (prepared by Gateway Planning Group at www.gatewayplanning.com) and a comprehensive package of catalyst projects intended to jump-start downtown revitalization. For a complete copy of the Downtown Owensboro Master Plan, see “Master Plan” under the “Town Planning and Urban Design” section of www.gatewayplanning.com.