Goodman explained part of the concerns with developing the property include the removal of the wastewater treatment plant that was formerly located on the site and planning around the 10th Street ramp being constructed as part of the Ohio River Bridges Project.
Muncy added that if the hotel moves forward as planned, it would generate an estimated $1 million per year in tax revenue. He continued that if API was awarded the project, it would have a plan in place in July, start construction in November, with an estimated completion date in May or June 2014.
WHITE REACH DEVELOPMENT
A similar plan was proposed by Lexington-based White Reach Development that would bring retail, restaurants and hotels to the location.
The White Reach plan called for two hotels, two stand-alone restaurants and a Starbucks. Letters of interest for potential tenants included Zaxby’s, McDonalds, Cracker Barrel and hotel chains owned by Hilton. The White Reach plan also pushed a retention pond located near the site closer to Seventh Street.
Eventually the group’s plan would be to extend the development and incorporate pedestrian and bike paths to connect to downtown.
“When I read your RFP, one of the most important portions of it was to connect [to] your historic downtown,” said Steve Reach, managing member of White Reach Development. “Our whole objective toward this development is ... to use this as a catalyst to bring income and revenue to Jeffersonville, but also to bring connectivity.”
Despite pushing the retention basin farther back that its currently planed location, Reach said phase one of the development could take place on the property owned by the city.
“Everything in this initial plan could go on the property,” he said.
Again the purchase price was an issue. It was stated that the purchase price would not be known until the contractor was able to do some more serious due diligence and after being able to have control of the property, said Eric Brewer, with White Reach Development.