Aug. 30—CLARKSVILLE — Although nothing's set in stone yet, more information about a proposed conference center in the rapidly developing southern end of Clarksville was revealed at the town's Redevelopment Commission on Tuesday evening.
Clark-Floyd Counties Convention Tourism Bureau, also known as SoIN Tourism, presented the findings of the "Southern Indiana Conference Center Feasibility Study" at the meeting.
SoIN Tourism Executive Director Jim Epperson said the study found construction of this project, including putting in a $1.3 million surface parking lot, would cost an estimated $53 million.
He said the economic impacts of the project, including steadily increasing hotel stays and event bookings, would be beneficial to the region.
A timeline for the proposed project hasn't been established at this time.
The study, conducted by Johnson Consulting, resulted in two different orientations of the center. The orientations are similar, with one of the proposed centers being built on an angle.
He said the center, which would be smaller than a convention center, could host a few thousand people for events and conferences. The goal would be to provide better prices to smaller groups that may not be able to afford larger facilities in Louisville.
The cost associated with both renderings of the facility, is about the same. They would both feature a hotel, kitchen and meeting spaces.
"Either way we got pretty consistent construction cost estimates across the board," Epperson said.
Johnson Consulting was able to identify some "sources of funding," Epperson said.
The presentation proposed SoIN Tourism would be able to contribute $2 million in capital development funds to the project.
Money from FEMA may be available as well, Epperson said.
"They've had success, Johnson Consulting, in getting FEMA funds," Epperson said. "Where FEMA is interested in setting up disaster centers in large spaces, so they contribute to the development of them."
The study also identified READI Grant money, funds from the American Rescue Plan, TIF funds and a general obligation bond as streams of income for the project.
According to the study, revenue bonds would be the largest funding source of the project.
The study's operating projections show a five-year projected period of growth at the proposed conference center and hotel.
The consulting firm determined that in the first year the center could host 176 events with 120,000 guests.
By the fifth year, the center could host 200 events with 148,000 guests.