Owensboro Mall Revival: $1.5M Incentive Approved

City’s Bold Move for Family Entertainment

In a significant move to revitalize the area, the city has approved a $1.5 million incentive to support the development of a family entertainment center at the former mall site. This bold move is expected to have a profound impact on the local economy, creating new job opportunities and boosting local businesses.

The Incentive Breakdown: $1.5 Million in Support

The city’s investment of $1.5 million is a significant commitment to the project, and it’s essential to understand what this investment means for the project’s success.

What the City’s Investment Means for the Project

The $1.5 million incentive is a critical component of the project’s overall budget, and it will play a vital role in bringing the family entertainment center to life. The incentive will be used to cover various expenses, including construction costs, equipment purchases.

A Closer Look at the Incentive’s Structure and Timeline

The incentive is structured to be paid out over a specific timeline, with certain milestones and deadlines that need to be met. According to the agreement, the incentive will be disbursed in phases, with the first payment of $500,000 due within the next six months. The remaining $1 million will be paid out in equal installments over the next two years, contingent upon the project meeting specific performance metrics.

Revitalizing the Former Mall Site

The family entertainment center is expected to transform the area’s landscape, bringing new life to the former mall site that has been vacant for several years.

How the Family Entertainment Center Will Transform the Area’s Landscape

The family entertainment center will be a state-of-the-art facility, featuring a range of attractions, including arcade games, laser tag, and a trampoline park. The center will also include a restaurant and bar, offering a range of food and beverage options.

The Potential Impact on Local Businesses and Job Creation

The family entertainment center is expected to have a significant impact on local businesses, attracting visitors from across the region. According to estimates, the center will create over 100 new jobs, both full-time and part-time positions. This influx of new visitors will also benefit local businesses, including hotels, restaurants, and retail stores.

Family Entertainment Center: A New Hub for Fun

The newly approved family entertainment center at the former mall site is set to become a vibrant hub for fun and excitement, catering to diverse age groups and interests.

The center will feature a wide range of attractions and amenities, including arcade games, laser tag arena, a trampoline park, a dedicated area for younger kids, and a restaurant and bar serving a variety of cuisine. This diverse range of offerings will make the entertainment center an ideal destination for birthday parties, corporate events, and casual outings.

One of the key highlights of the project is its focus on inclusivity. The center will incorporate accessible play areas and amenities, making it an enjoyable experience for visitors with disabilities. Furthermore, the center will offer special events and programs for kids with autism and other special needs.

Amenities and Attractions

• A 10,000-square-foot trampoline park with dedicated areas for dodgeball and basketball
• A 5,000-square-foot laser tag arena with state-of-the-art equipment and themed environments
• A 3,000-square-foot arcade featuring the latest video and redemption games
• A dedicated area for younger kids, featuring soft play structures, ball pits, and imagination-driven play areas
• A 2,000-square-foot restaurant serving a variety of food options, including healthy snacks and meals
• A full-service bar offering a selection of craft beers and cocktails

Economic Implications and Projections

The $1.5 million incentive approved by the city is expected to yield significant economic benefits for the local community.

The entertainment center is projected to generate approximately $1.2 million in annual tax revenue for the city, contributing significantly to the area’s tax base and growth. Furthermore, the center is expected to create around 50 full-time jobs, with a mix of management, customer service, and maintenance positions.

In addition to the direct benefits, the entertainment center is also expected to have a positive impact on local businesses, including hotels, restaurants, and retail stores. According to a study by the National Restaurant Association, every dollar spent at a restaurant generates an additional $2.05 in economic benefits for the local community.

By attracting visitors from surrounding areas, the entertainment center is expected to inject new revenue streams into the economy, stimulating local growth and development.

Economic Projections

• Annual tax revenue: $1.2 million
• Number of full-time jobs created
• Indirect economic benefits: $2.5 million (based on a study by the National Restaurant Association)

Practical Considerations and Next Steps for the Project

While the project has received widespread support, there are still several practical considerations that need to be addressed to ensure the long-term success and integration of the entertainment center.

One of the key concerns is the potential impact of noise and traffic on the local community. The city has assured residents that it will work closely with the center’s management to implement mitigation measures, such as noise reduction systems and traffic management plans.

Another crucial aspect is the center’s potential impact on local businesses. The city has agreed to provide support and resources to help businesses adapt to the changing market dynamics and capitalize on the new opportunities presented by the entertainment center.

Next Steps

• The city will work closely with the center’s team to finalize the project’s timeline and milestones
• The center’s management will begin working with local businesses to develop partnerships and joint marketing initiatives
• The city will establish a community outreach program to address any concerns and provide regular updates on the project’s progress