Kentucky Horse Park Hotel may be delayed
Posted by Jennifer Karlen on Sunday, February 8th, 2009 at 9:18pm.
Just an update for those that have been following the proposed
Kentucky Horse Park hotel: According to the Finance and Administration
Cabinet in Kentucky, no bonds have been sold for the proposed
equestrian hotel. And if the bonds aren’t sold by April 15, 2008,
there will be insufficient time to get the hotel finished in time for
the World Equestrian Games in 2010 to be held at the KY horse park.
[Park officials do not want construction going on at the facility while
the 2010 WEG is going on.]
The person selling the bonds is Ryan Barrow, who is with the company Ross, Sinclaire. He has stated that the current economy has made it somewhat more difficult to get the bonds sold to fund the hotel project.
And beyond just the financing aspect of the hotel project, there is a secondary motivator kicking in the April 15th deadline: the franchise ground lease agreement with Westin Hotels, has the April 15th date selected as its target date.
If they are unable to get the bonds sold by the April 15th deadline, it means that the KY Horse Park Hotel project would most likely be delayed until after the 2010 WEG event.
article, you will recall the hotel was being funded primarily through
the sale of bonds. [...]
Posted on Sunday, February 8th, 2009 at 9:23pm.